Philippines real estate firm enters India

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• Pune builders' success mantra: build townships
• Mumbai house prices soar but no shortage of takers
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• Biggest IPO to hit the Indian capital markets
• Govt approves release of 3G spectrum for BSNL, MTNL
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Keywords: Ayala Corporation, Real Estate

Mumbai: Ayala Corporation of Philippines and its affiliate, Arch Capital Management, plan to invest $100 million in the Indian property market in the next two years.

Ayala is one of the largest real estate brands in Philippines and the private equity fund is currently evaluating property in Chennai, Hyderabad, the national capital region, Mumbai, Pune and Bangalore.

Sources say it will subsequently consider smaller cities as there is more room for development. Sources also say residential projects are top on arch capital management's priority list as it is easier to exit them. The fund is also considering investing in retail and IT projects.

Hong Kong-based Arch Capital Management closed its first deal in India last month with Mahindra Lifespace Sevelopers. It will develop a residential township in Chennai, a project in which it holds a 49 per cent stake.