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Morgan Stanley invests Rs 300 cr in MDPL

Written by: Staff
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Mumbai, Mar 1: Morgan Stanley Real Estate has made its first investment in the Indian real estate segment by investing Rs 300 crore in Bangalore-based Mantri Developers Private Limited (MDPL).

This investment comes on the heels of the Indian government liberalising foreign investment in the domestic real estate segment while the other influencing factors were the rapid urbanisation, availability of housing finance and the strong growth of the consumer segment.

''We believe India presents an extremely compelling investment story and expect to be a long-term investor in the real estate sector,'' Morgan Stanley Real Estate Investing managing director and global head Sonny Kalsi said.

''We are excited to be partnering with Morgan Stanley to grow our residential business,'' said MDPL managing director Sushil Mantri.

''The partnership will be integral to our ability to create value by expanding our presence in Bangalore and other key markets,'' he added.

Since 1991, Morgan Stanley has acquired USD 73.1 billion of real estate assets worldwide and currently manages approximately USD 40 billion in real estate assets on behalf of its clients, stated the release, adding that Morgan Stanley is also a global leader in real estate lending, and, using its own capital, has originated upwards of USD 24 billion in commercial mortgages in 2005.

UNI

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