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Our Real Estate business currently manages two third-party capital funds:

>  India Advantage Fund Real Estate Series 1

>  India Advantage Fund Real Estate Series 2

These funds aggregate original corpus of ~USD 600 million. We are currently investing out of our India Advantage Fund Real Estate Series 2 (IAF RE S2) a domestic residential focused fund

Investment Themes

In the past, ICICI Venture's real estate investments have been focused across a wide range of asset classes and geographies, including investments in residential projects, integrated townships, IT parks/IT SEZs, retail malls and commercial properties in Mumbai, Hyderabad, Pune, Chennai and Central India.

With our latest fund, IAF RE S2, the investment theme will primarily centre on:

  • Residential projects located within established as well as emerging locations of Tier I cities
  • Entry at land acquisition stage to under-construction stage
  • Shorter duration projects with a tenure of 3-4 years
  • Partner with established developers in their respective micro-markets

Decisions regarding our investments in the real estate sector will be based on:

Partnership ICICI Venture seeks to partner with established developers within their respective markets.  Typically, such developers possess extensive familiarity with the local property market conditions and feature superior execution capabilities and a good brand image.

Development lead We possess strong in-house capabilities to drive the development of a project. These include project planning and determining the optimum product mix; obtaining various project approvals; appointment of an execution team; achieving financial closure and hiring of contractors. 

Property Management expertise We have also developed sound property management expertise through earlier successful experiences in the domain. This includes lease management such as sourcing, negotiations and tenant relationship management; renovation and repositioning of the building and operations management.

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