Office space developers set to raise $3.5 billion by March 2017

Large office space developers in India are set to raise more than $3.5 billion by March from institutional investors and pension funds. The fundraising will help the property developers bring new investors on board and expand their project portfolios.

Bengaluru-based RMZ Corp., backed by the Qatar Investment Authority (QIA), plans to raise about Rs1,700 crore by selling a stake in a portfolio of office assets. QIA, which bought a 22% stake for Rs1,200 crore in RMZ’s first office platform, will also invest in the second venture, and the developer is in talks to bring another investor on board.

Read more: Livemint