Karan Bolaria, managing director & CEO, Godrej Fund Management, said, "We are pleased to partner with Allianz Real Estate and APG Asset Management on our office development platform, GBTC-I. GFM, with its strategic combination of investment management and development management capabilities, is ideally positioned to deliver on the opportunity that exists in Grade-A office in India."
Graeme Torre, managing director, APG Asset Management Asia, said, "The build–to-core strategy that we commenced with Godrej Fund Management
last year has had a very successful start with two first class acquisitions and a strong pipeline of future opportunities. We are delighted to have Allianz Real Estate now join the partnership and look forward to seeing the portfolio further extended to provide exposure to India’s premium office sector."
"We continue to believe in the long-term growth prospects of the Indian economy. Strong demographic trends and improving transparency are supporting real estate occupier as well as investor demand, in particular the office sector, which is ideal for long-term institutional investors such as Allianz," said Rushabh Desai, Asia-Pacific CEO of Allianz Real Estate. "We are excited about this new partnership. Godrej is one of the most trusted brands in India with a successful track record in office. We are confident that the platform will deliver upon completion a premium office product that is increasingly sought after by multinational tenants operating in India," Desai said.