Deutsche Bank plans $300-m realty fund

Rreef/DB Real Estate, a unit of Deutsche Bank AG plans to start a global fund that will invest as much as $300 million in India to tap an expected surge in demand for property.

The country will probably need 6.9 million to 9.7 million homes annually for the next 20 to 25 years. Deutsche Bank is very excited about the housing sector, in the opportunities that lie ahead, with income levels growing and more people investing in their own homes. In the next 15 to 20 years, India's potential is enormous in sustained growth. There's more capital looking for opportunities and they will come in a gradual manner.

Indian real-estate companies are expanding to tap the demand for homes, offices and retail space as overseas companies are allowed in more industries and faster economic growth boosts middle-class incomes in the country.

Deutsche Bank may plan a second fund for India if it continues to see success in the investments in the country.

Source: http://sify.com/finance/fullstory.php?id=14202767