Ivanhoe Cambridge, the real estate subsidiary of Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), has tied up with global real estate development firm Mapletree to set up a platform that will invest over Rs 15,000 crore in technology sector-focused workplaces in India. The deal between Ivanhoe Cambridge and Mapletree is one of the largest investment platforms in the Indian real estate office sector.
While Ivanhoe Cambridge will be bringing in its expertise and experience as an institutional investor across different sectors and assets, Mapletree will be offering its property management services and global track record of developing high-quality real estate assets. The properties and projects have already been identified to meet the stated objectives of the platform.
The investment strategy will be to develop high-quality offices in the major cities of India that are not only economic hubs but also seeing rapid growth in technology-oriented activities and companies. The companies also committed to set up workplaces that are in sync with sustainability benchmarks.
As per Mapletree the collaboration would strengthen its presence in India, and expand its portfolio in the commercial sector efficiently which is believed to have good growth potential in the coming years. It is part of the overall growth plans for the Asia-Pacific region and would help in diversifying its portfolio and provide resilience to its returns. Investments in commercial real estate in India are being fuelled by multinational corporations setting up global capability centres, innovation labs, and research and development centres.
