MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

Apollo to lend about $1B to Indian property developers

Apollo to lend about $1B to Indian property developers

Apollo Global Management Inc. wants to lend about $1 billion to property developers in India this year, betting on a recovery in the Indian residential property market as the pandemic subsides.

That is up from the $750 million Apollo Global Management lent to Indian developers last year, with nearly two-thirds of that sum directed to residential projects, according to Nipun Sahni, a partner at the private equity firm. About 70% of this year’s investment will go to home builders and the rest to commercial developers.

In an interview, Sahni said that the real estate market volumes were back to pre-COVID levels, and in some markets, it was higher than in 2019. Sahni added that the market volumes were consolidating rapidly, with the number of unsold homes in India at a 10-year low, which served as a sign of an uptick in prices.

The country’s housing market saw a strong rebound from the lows of the COVID-19 pandemic as low-interest rates and developer discounts fueled demands. Low inventory levels will likely prolong the boom in the residential property market, where prices could rise as much as 10% across the country’s top six cities, according to a CRISIL Ratings Ltd. report on May 10.

Apollo Global Management opened its Mumbai office in 2008 and currently manages nearly $513 billion of assets globally. The company began lending to Indian property developers in 2017.

YOU MAY ALSO LIKE

Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

RECOMMENDED