Goldman Sachs invests $40M in Vatika Group’s hospitality arm

Global financial services giant Goldman Sachs has invested Rs 255 crore ($40 million) through an equity deal in Vatika Hotels, the hospitality arm of Gurgaon-based developer Vatika Group, the company said in a statement.

Vatika Hotels is into business centres, facilities management, hotels & resorts, wellness & diagnostic centre and restaurants.

It currently owns two Westin branded hotels in Gurgaon and is planning to come up with assets in Jaipur and Pondicherry. The company also owns and manages Vatika Business Centres which is spread across 0.5 million sq ft across India.

Vatika Business Centre plans to double its capacity over the next 36 months, the company said.

The development comes soon after the company announced that it has forged two joint ventures (JVs) with Singapore's sovereign wealth fund GIC to develop two residential projects on Dwarka Expressway.

There has been a spike in interest among global investors towards real estate, hospitality and infrastructure projects in India in the last six months. A bunch of international real estate investors and developers is looking at real estate and hospitality projects in India for investment.

Donald Trump recently announced that it will be looking at backing realty and hotel projects in India apart from licence-pact deals going forward. It is understood that it is in talks with Gurgaon-based Ireo to back one of its hotel projects.

Recently, American realty developer Hines announced that it will be pumping in $250 million in the Indian real estate market. Global financial services giant Morgan Stanley is also going to make substantial amount of investment in India from its latest realty fund.

(Edited by Joby Puthuparampil Johnson)

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