ICS’ Asset Management arm (IAM) provides investment management and advisory services to institutional investors focused on the Indian real estate sector.
IAM aims to capitalise on ICS Group’s in-depth understanding of the Indian real estate sector and the strong relationships developed by the Group over the years.
IAM has been actively advising and managing the promoter group’s investment of US$ 69 million (Approx. Rs. 425 Crores)* in the Indian real estate sector since 2008.
*Indian Rupee equivalent as of September 2013
IAM offers comprehensive asset management services to its clients. Its forte is founded on its ability to manage investments from inception to maturity.
IAM currently advises and manages the promoter group’s Rs. 425 Crore investment in 3 large retail-centric mixed-use developments, located in India’s upcoming tier 2 cities. The projects are being developed by Prozone Capital Shopping Centres Ltd., an Indian listed company promoted by retail major Provogue (India) and Capital Shopping Centres (UK), an FTSE-listed property company now known as Intu Properties PLC. The total floor space index (FSI) available for development across the 3 projects is approximately 6.5 million sq ft.
IAM has now initiated the process of raising capital for an India focused mixed-use real estate fund with an emphasis on retail. This fund, with a target corpus of US$ 250 million, shall invest in the top 7 Indian cities at an early stage of development, enabling investors to secure the total benefit of value enhancement.
IAM is also evaluating options to extend its investment management services to the hospitality and car parking sectors.