The company has also acquired WealthVisory Capital, a Delhi-based boutique consultancy firm, at an undisclosed amount.
New Delhi: Malaysia-headquartered IQI, an real estate agency and advisory firm, has launched operations in India with plans to invest Rs 100 crore to acquire grade A commercial and retail assets in the country, a senior official said.
Besides facilitating real estate transactions, the company is looking to acquire fresh land to construct residential and commercial projects.
“We have already identified assets, which we will acquire in coming days. To start with, Rs 100 crore investment will be made, which will grow as we progress. We will monetise the acquired property at the right time,” said Pankaz Jaiin, Managing Director & CEO, IQI India.
The company has also acquired WealthVisory Capital, a Delhi-based boutique consultancy firm, at an undisclosed amount.
According to Jaiin, the company will only focus on property worth over Rs 10 crore in the residential segment.
“We have merged our operation with IQI India and will help them in expanding the residential business in India. But the focus would be on Lutyens and South Delhi in NCR and prime properties in Mumbai and Bengaluru,” said Pradeep Prajapati, founder of WealthVisory Capital, who will now head luxury residential service for IQI India.
In the commercial segment, the company sees a lot of opportunity in and around Noida with the announcement of Jewar airport.
“A lot of builders sell the grade A assets and we will acquire prime property at prime location and will earn rental before we liquidate it. Besides, we will also focus on new asset classes like warehousing and data centres,” said Jaiin.
IQI has regional offices in 17 countries across 5 continents.
“Most of the advisory firms are limited to facilitating the transaction but we will acquire the property and invest in it. All the properties be it commercial or residential, will be in central business districts so that we can get the maximum return,” said Yovesh Suri, Director, International Sales, IQI India.
The global team of IQI will help the Indian team in getting the business from other countries as HNIs are willing to invest in India.
Source: https://m-economictimes-com.cdn.ampproject.org/c/s/m.economictimes.com/property-/-cstruction/iqi-india-to-acquire-commercial-and-retail-assets-to-invest-rs-100-crore/amp_articleshow/80254894.cms
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