Morgan Stanley to invest $1bn in Indian realty

Morgan Stanley Real Estate, the realty arm of global financial services firm Morgan Stanley, on Wednesday said it plans to invest $1 billion (Rs 4,600 crore) in next 4-5 years in India.

"Over the next 4-5 years, around one billion dollars investment is not out of realm of possibility," Zain Fancy, executive director of Morgan Stanley Real Estate in Asia Pacific said.

The company, which recently invested around $65 million (nearly Rs 305 crore) in Delhi-based real estate firm Alpha G:Corp, has already invested about $140 million in India, he said.

"We are looking at a mix of company-level investment as well as asset investment in India. We are in discussion with several developers," Fancy said, adding that opportunities existed in all segments of Indian real estate sectors.

When asked about the stake it has picked in Alpha through this investment, Fancy said: "Its not a majority stake but meaningful."

On the reasons behind picking Alpha for the investment, he said that it has all qualities that Morgan Stanley looks in for partnership.

Fancy, who has been inducted into the board of Alpha, said that it would bring transaction for Alpha as well as its global retail partners to tie-up with Indian partners.