Deutsche Bank to Invest in Indian real estate with Nagarjuna

Deutsche Bank's alternative investment management business, RREEF Alternative Investments (RREEF), plans to invest a further $1 billion over three years in India's real estate and infrastructure sector, said a top company official.

Kishore Gotety, country head of RREEF India Advisors Private Ltd., said the company has invested about $70 million in another Indian company, Golden Gate Properties Ltd., which is involved in primarily residential apartment projects in southern India.

RREEF said it has formed a 60:40 joint venture with Nagarjuna Construction Company Ltd.'s (NCC) unit, NCC Urban Infrastructure Ltd., to develop a $400
million realty development project in the southern Indian city of Hyderabad.

Kurt Roeloffs, chief executive officer, RREEF Asia Pacific, termed India as a particularly attractive emerging real estate and infrastructure market for high return-oriented offshore clients. However, he said RREEF, which has country specific funds like Japan and Hong Kong, currently does not have specific plans for an India specific fund.........