(From left) Kishore Gotety, country head of RREEF India Advisor, with Kurt Roeloffs, CEO of RREEF Asia Pacific, and Gunit Chadha, CEO and managing director of Deutsche Bank India, in Mumbai on Monday. (Fotocorp)

Mumbai, April 28: Just when it seems that the realty run is almost over, a Deutsche Bank arm has announced an investment of over $1 billion over the next three years in the Indian real estate sector.

RREEF Alternate Investments, the global alternate investment management business of Deutsche Bank, today announced that it would invest over $1 billion in different realty projects in the country.

“There is no particular format that we are looking at right now. We see attractive opportunities across the spectrum — residential, retail, hospitality and commercial real estate,” said Kishore Gotety, country head of RREEF India Advisors Private Limited.

“Our preferred deal size would be between $50 million and $150 million and we are evaluating deals in western and northern India,” he told The Telegraph.

RREEF Alternative Investments consists of three businesses globally — real estate, infrastructure and private equity.

“We are working on deals involving roads, power, airport and railway terminals,” he added.

Since it entered India, RREEF has made two investments. In January, it invested $70 million in Bangalore-based developer Golden Gates Properties.

“We have also invested $400 million in a 60:40 joint venture with a company in Hyderabad,” Gotety said.

“We have acquired a 31-acre site located at the potentially high growth Narsingi junction on the road connecting the IT zones of Madhapur and Gachibowli to the new international airport,” Gotety said.

“Some of the towns such as Pune in Maharashtra, Visakhapatnam in Andhra Pradesh, and Mysore will likely emerge as good options for development. It is important for us to understand the economic profile of the city, the business traction and the level of infrastructure development before we conclude on the vibrancy of an emerging town for investment,' he added.

RREEF is also bullish on affordable housing projects in India, Gotety told a news conference. On the timing of the investment, Gotety said the present condition was ideal for pumping more money into real estate.

“The government is also looking at allowing REITS in the country soon. So this is the right time to be here,' he said.