Indian Real Estate Market Sees Surge in Deals Worth USD 1.56 Billion in Q2 2024
The Indian real estate market has witnessed a significant surge in deals worth USD 1.56 billion during the April-June period, driven by increased investor confidence and supportive government policies.
Indian Real Estate MarketDealsMergers And AcquisitionsPrivate Equity InvestmentsGrant Thornton BharatEconomic RecoveryReal Estate MumbaiJul 18, 2024
In the second quarter, the Indian real estate market saw 19 deals worth USD 1.56 billion, a significant jump from the 4 deals valued at USD 200 million in the preceding quarter. This surge in deal activity is primarily driven by four high-value transactions, which accounted for 85 per cent of the total deal value.
According to Shabala Shinde, Partner and Real Estate Leader at Grant Thornton Bharat, 'The Indian real estate market has shown robust activity in Q2 2024, driven by economic recovery, increased investor confidence, and supportive government policies.' The consultant noted that there has been a robust growth trajectory in overall deal activity, primarily driven by substantial increases in domestic transactions and private equity (PE) investments.
The M&A deals during the second quarter were valued at USD 123 million, up from USD 32 million in the preceding quarter. The private equity deals jumped 8.5 times to USD 1,439 million in April-June 2024 from USD 168 million in the preceding quarter.
The report highlighted that four top deals (all from the PE segment) alone accounted for 85 per cent of the total deal value. Brookfield India Real Estate Trust's acquisition of four grade A commercial assets from Bharti Enterprises in Delhi for USD 723 million marked the largest transaction of the quarter. In the residential development segment, Abu Dhabi Investment Authority and Kotak Alternative Investment Fund invested USD 240 million in Prestige Estates Projects, and Indiabulls Constructions acquired Sky Forest Projects from Blackstone for USD 78 million.
Information
Grant Thornton Bharat is a consulting firm that provides insights into the Indian real estate market through its report 'Real Estate/REITs Dealtracker'.
DLF, a leading real estate developer, is planning to expand its housing and commercial property business, including entering new markets such as Mumbai and Goa, according to its Chairman Rajiv Singh.
Frequently Asked Questions
What was the total value of deals in the Indian real estate market during the second quarter of 2024?
USD 1.56 billion
What was the jump in deal value compared to the preceding quarter?
Nearly eight-fold
What drove the surge in deal activity during the second quarter?
Economic recovery, increased investor confidence, and supportive government policies
What was the largest transaction of the quarter?
Brookfield India Real Estate Trust's acquisition of four grade A commercial assets from Bharti Enterprises in Delhi for USD 723 million
Who are the major players involved in the residential development segment deals?
Abu Dhabi Investment Authority, Kotak Alternative Investment Fund, Prestige Estates Projects, Indiabulls Constructions, and Blackstone
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