After hitting a five-year low in fund-raising globally, real estate funds are back on track. A number of new and existing real estate funds are planning to tap domestic and offshore markets to raise funds.The revival of sentiment globally and in the real estate sector has led to funds chasing high net worth individuals (HNIs) and ultra HNIs flush with liquidity. Domestic real estate funds are using this opportunity to expand their existing funds or do a fresh round of fund-raising.
The Piramal group-promoted Indiareit Fund Adviors is planning to raise a Rs 500-crore real estate fund.
ASK Investment Advisors, which raised a domestic real estate fund recently, is planning to raise a $250-million offshore real estate fund.
Dewan Housing, a player in the housing finance segment, is planning to raise a $250-million real estate fund.
Sources said ICICI Ventures was also looking at launching a real estate fund by the fourth quarter of this year.
Morgan Stanley, which has a global real estate fund in India, might also look at raising an India-focused real estate fund by the end of this year, sources said.
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