Indian Real Estate Sector Sees Unprecedented Growth in Q2 2024
The Indian real estate market witnessed a significant surge in deal activity in Q2 2024, with 19 deals worth $1.6 billion, driven by economic recovery and supportive government policies.
Indian Real EstateGrant ThorntonMa DealsPrivate Equity InvestmentsEconomic RecoveryReal EstateJul 18, 2024
The report, titled 'Real Estate/REITs Dealtracker-Providing M&A and PE deal insights', highlights the 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 $123 million, as against $32 million in the preceding quarter. Moreover, private equity deals jumped 8.5 times to $1,439 million in April-June 2024 from $168 million in the preceding quarter.
The report attributes this surge to four high-value transactions, which accounted for 85% of the total deal value. One of the largest transactions of the quarter was Brookfield India Real Estate Trust's acquisition of four grade A commercial assets from Bharti Enterprises in Delhi for $723 million. Other notable deals include Abu Dhabi Investment Authority and Kotak Alternative Investment Fund's investment of $240 million in Prestige Estates Projects, and Indiabulls Constructions' acquisition of Sky Forest Projects from Blackstone for $78 million.
Shabala Shinde, Partner and Real Estate Leader at Grant Thornton Bharat, noted that the Indian real estate market has shown robust activity, driven by economic recovery, increased investor confidence, and supportive government policies. This signals a promising period for deal-making and growth in the sector.
Information
Grant Thornton Bharat is a leading consulting firm that provides deal insights and advisory services to clients across various industries.
Grant Thornton Bharat is a member firm of Grant Thornton International Ltd, one of the world's leading organizations of independent audit, tax, and advisory firms.
Frequently Asked Questions
What was the total value of deals in the Indian real estate market in Q2 2024?
$1.56 billion
How many deals were closed during the April-June period?
19 deals
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 $723 million
What drove the surge in deal activity in Q2 2024?
Economic recovery, increased investor confidence, and supportive government policies
Which segment saw the highest growth in deals during the quarter?
Private equity investments
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