Express Towers in Mumbai’s Nariman Point, part of Blackstone-backed Embassy Office Parks, which houses the firm’s India headquarters.
Photographer: Abeer Khan/Bloomberg
Real Estate
Blackstone Revamps Its Strategy in India's $300 Billion Property Market
The US investment giant is venturing into new cities and unconventional assets to sustain its edge over foreign rivals.
When Blackstone launched its India real estate operations in the mid-2000s out of a two-bedroom luxury apartment in Mumbai, the property market was fragmented and largely dominated by informal players often associated with dubious practices.
Now, it has the opposite problem. India’s $300 billion real estate market is attracting a wall of institutional capital, having become a top pick for many of the global firms that took years to follow Blackstone’s lead.