PE firms eyeing office retail segment in Bengal

    Kolkata, Feb 14 (PTI) Global private equity firms are
looking for opportunities in office and retail space in the
real estate sector in West Bengal after a successful stint in
the logistics segment, a property consultant said on Friday.
    "Global private equity firms are seriously planning to
put their money in office and retail (in real estate) segment
in West Bengal," CBRE India managing director Nikhil Bhatia
told PTI.
    Blackstone, Brookfield, KKR, GIC, ESR, Warburg Pincus
Avendus Capital, Goldman Sachs and Xander Group are among
companies which are "evaluating right opportunities" in the
state, another official of the property consulting firm said.
    "In West Bengal, warehouse absorption stood at 3.3
million sqft in 2019, marginally lower than 3.4 million sqft,
absorbed in the previous year," the official said.
    In 2019, office leasing in Kolkata has recorded a
sharp growth totalling 1.3 million sqft of commercial space,
he said.
    Leasing activities in the last calendar year were
driven by IT majors and banks that had taken up new office
space in the city's satellite townships, the official said.
    Bhatia said similar trend will continue in the current
year with fresh interests from the global private equity
firms.
    PE firms' interests in the residential sector are also
set to grow in the coming years, he added. PTI BSM
BDC BDC

(This story has not been edited by THE WEEK and is auto-generated from PTI)