Global real estate funds to partner developers for high-rise buildings

With land getting more and more scarce in Tier I and Tier II cities, international real estate funds, jointly with domestic property developers and real estate companies, are setting up high rise buildings in these cities. Philippines-based Ayala, an international real estate fund, is looking at entering the Indian real estate market by tying up with property majors in order to develop high rise buildings in Tier I and II cities. This includes cities such as Mumbai, Delhi, Kolkata and Bangalore. Besides this, the US-based Forestcity too is planning to enter the Indian market for developing high rise apartments.