Barwa Real Estate, in collaboration with Sun Group, a prominent player in private equity and investment in India, has embarked on a joint venture initiative aimed at tapping into the Indian real estate landscape.
The two entities have proposed the establishment of a 50:50 joint venture firm, which will be known as Sun-Barwa Land. This newly formed company plans to seek necessary approvals from the Foreign Investment Promotion Board (FIPB) in India, focusing on the aggregation, acquisition, holding, and development of land banks situated in areas identified for high growth within the country. In conjunction with this, both Barwa and Sun Group intend to raise capital from investors based in Qatar and the broader Middle Eastern region.
Ghanim Bin Saad Al Saad, who acts as the chairman and managing director of Barwa, remarked, "It was part of our strategy to enter the Indian market that has strong fundamentals and solid growth parameters. Barwa looks forward to its partnership with Sun Group due to its extensive experience in the Indian market."
Additionally, Nand Khemka, chairman of Sun Group, expressed pride in collaborating with Barwa, stating, "We are proud to be partnering with Barwa which brings significant expertise from Qatar and the region to India with potential for major growth for years to come."