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Sign in Sign up for a FREE subscriptionWarburg Pincus forms $1b Indian shopping mall platform
An affiliate of global private equity firm Warburg Pincus and Mumbai-based real estate firm Runwal Group have formed a joint venture to create a retail mall platform. Both partners will commit $200 million each, in the form of equity, and raise another $600 million in the form of debt to create a total buying power of $1 billion, to invest in and develop shopping malls across first-, second- and third-tier cities in India, which have a sizable population and growing disposable incomes.
The platform will look to build large destination malls as well as smaller hypermarket and cinema-anchored community malls. The platform marks Warburg Pincus’ first such tie-up for retail real estate in the country.
An affiliate of Warburg Pincus and Runwal Developers Pvt. Ltd. will each hold a 50 percent stake in the platform.
Runwal Group already operates four malls in Mumbai, with a total leasable area of approximately 2 million square feet.
Sanjay Dube has been appoin
