Private sector lender IndusInd Bank has said that it plans to raise a $1 billion fund to invest in infrastructure and real estate. The bank announced this at a meeting of IndusInd International Holdings Ltd, a platform to mobilise NRI investments, in Dubai. The investors in Dubai are very keen on infrastructure and real estate in India and bank plans to mobilise that sentiment, reports PTI. IndusInd plans to partner with Indian firms that are known in the capital market space and are in the process of floating funds of their own.
There have been a lot of investment in the Indian real estate from countries in the Gulf region. In July this year Bahrain-based Khaleeji Commercial Bank announced a $430 million investment in Global Logistix city in Navi Mumbai. The same bank has invested $164 million in an unnamed real estate development project near New Delhi.
In October 2007 Gulf Finance House committed $630 million for Energy City India, an infrastructure project being set up in Navi Mumbai, Maharashtra. In March this year, Abu Dhabi Investment House (ADIH) also announced the launch of India Entertainment City (IEC) fund, which would be financed through a $400 million Sharia-compliant fund.