Development managers normally charge 15 per cent of the project cost.
has undertaken development work in infotech SEZs acquired from Unitech Corporate Parks in the National Capital Region and Kolkata.
Brookfield declined to comment, while Wadia Stud Farm could not be reached.
“It’s very interesting. There are developmental risks attached, but that’s the only way PEs will be able to grow as there is not much stock of completed offices left,” said Anuj Puri, chairman at ANAROCK Property Consultants.
Interestingly, Brookfield’s global rival Blackstone has mostly bought ready properties in the country such as Express Towers, 247 Park, One BKC and so on.
Brookfield is also acquiring a prime Mumbai property spread across 9.67 acres, which includes a 100-room hotel, for Rs 750 crore from Sanjay Narang-owned Mars Enterprises and Hospitality, reports said recently. Brookfield, which earlier did the country’s largest commercial property deal by acquiring the Powai commercial properties of Hiranandani family for Rs 6,700 crore, owns properties of over 25 million sq. ft.
Brookfield, which has assets of $385 billion under development, also has property development arm Brookfield Properties globally.