Indian Real Estate Fraser and Neave Charts An Indian Realty Foray

                                                                                         

Fraser & Neave (F&N), a Singapore-based consumer-to-real estate behemoth is planning a foray into the booming Indian real estate market.

Fraser Centrepoint, the property arm of F&N is exploring the possibility of expanding its operations to India. Asia Pacific Breweries (APB), in which F&N holds a substantial stake along with Heineken, has already forayed into the Indian domestic market by acquiring Aurangabad breweries, earlier this year.

F&N plans include undertaking property development in key metro cities, as it mulls on setting up residential apartments and shopping malls projects. Eyeing commercial developments in Delhi, Mumbai and Bangalore and suburbs for residential activities, the firm is likely to foray into Tier II cities in the next phase.

“We’re a company with operations in several countries in the world. As part of our expansion, we want to initiate operations in India as well. India’s economic growth is a strong motivator, so is the size of the consumer market. We came to India’s brewing industry with a brewery in Aurangabad. Thus, we’ve already ventured into the Indian beer business. As we realise the potential of the Indian market, we are interested in furthering our activities in India by entering into property development,” said Hui Choon Kit, GM, Treasury & Budget / Investor Relations, F&N. However, Kit refused to divulge details about proposed investments.

Analysts are of the opinion F&N may diversify its Indian operations, once its realty projects take off. The huge Indian real estate and consumer market has led F&N to see an enormous potential for growth and expansion in the country.

Also, the positive influence of the Indo-Singapore Comprehensive Economic Treaty has seen the company decide to zero in on India. APB has also entered into a JV with Jaipuria Beverages & Food Industries for production, distribution and selling of beer in AP, at an equity contribution of $10-million.

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Source: IndiaRealEstateblog

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