Mirae sets up $500m India realty investment unit

South Korea–based Mirae Asset Global Investments Co. has plans to enter India’s real estate sector with a $500 million investment for buying commercial leased properties, according to media outlets.

It will invest in commercial leased properties including information technology parks, corporate offices and warehouses.

Mirae has formed a real estate unit headed by Ashwini Kumar Mathur. Mathur, formerly assistant vice president of capital markets at property advisory firm Cushman & Wakefield, has worked with Tata Realty and Infrastructure Ltd. and Ascendas Property Fund Trustee Pvt.