In order to set up a joint venture (JV) for developing malls, Oberoi Realty is reportedly in discussion with US-based investor Morgan Stanley and Singapore’s sovereign fund, GIC. The venture would have a corpus of Rs 1,000 crore and Oberoi is expected to hold about 75%.
The company has also initiated talks with Canada Pension Plan Investment Board, which has shown interest in buying into malls. JPMorgan has been appointed the banker to find investors for the JV.
Oberoi Realty is India’s leading real estate development company, headquartered in Mumbai. While its primary focus is on residential projects, the company today has a diversified portfolio covering key segments of the real estate market like office space, retail, hospitality and social infrastructure verticals.
