PE firms eyeing office, retail segment in Bengal

Kolkata, Feb 14 () Global private equity firms arelooking for opportunities in office and retail space in thereal estate sector in West Bengal after a successful stint inthe logistics segment, a property consultant said on Friday.

"Global private equity firms are seriously planning toput their money in office and retail (in real estate) segmentin West Bengal," CBRE India managing director Nikhil Bhatiatold .

Blackstone, Brookfield, KKR, GIC, ESR, Warburg PincusAvendus Capital, Goldman Sachs and Xander Group are amongcompanies which are "evaluating right opportunities" in thestate, another official of the property consulting firm said.

"In West Bengal, warehouse absorption stood at 3.3million sqft in 2019, marginally lower than 3.4 million sqft,absorbed in the previous year," the official said.

In 2019, office leasing in Kolkata has recorded asharp growth totalling 1.3 million sqft of commercial space,he said.

Leasing activities in the last calendar year weredriven by IT majors and banks that had taken up new officespace in the city's satellite townships, the official said.

Bhatia said similar trend will continue in the currentyear with fresh interests from the global private equityfirms.

PE firms' interests in the residential sector are alsoset to grow in the coming years, he added. BSMBDC BDC