MUMBAI: Qatar Investment Authority (QIA), the sovereign wealth fund of the gas-rich Gulf emirate, is in talks to invest $200 million in residential property in India, a source with direct knowledge of the matter told Reuters.
QIA is holding “conversations” with Kotak Realty Fund, run by Kotak Mahindra Bank Ltd., which would manage the investments on behalf of the fund, said the source, who asked not to be named because the deal has not been finalized.
Kotak would also make a small investment and plans to focus on residential property developments in major cities across Asia’s third-largest economy for QIA, the source said.
Kotak declined to comment. QIA did not respond to emails or telephone calls.
Sovereign wealth funds and other long-term investors are eyeing opportunities in India’s real estate sector, betting that property prices are bottoming out after slumping this year on the back of the slowest economic growth in a decade.
House sales in major Indian cities, including Mumbai and Delhi, fell 22 percent in the quarter ended Sept. 30.
House prices grew by 9 percent over the same period compared with double digit increases in the year-ago quarter, according to property data firm Liases Foras.
Vikram Gandhi, founder of Delhi-based VSG Capital Advisers, which has been retained by Canada Pension Plan Investment Board (CPPIB) to seek investment opportunities in the country, said the timing to invest in Indian property was ideal.
“If you have a long-term perspective and you believe that the need for capital in a country is quite high, which it is, and the supply is limited right now because people are not investing, then this is the best time to invest,” he said.
In November, CPPIB said it would invest $200 million dollars to buy leased, income-producing office buildings in a joint venture with Indian construction company, Shapoorji Pallonji Group, which will invest $50 million.
QIA’s investment comes after the Abu Dhabi Investment Authority in July also appointed Kotak to invest $200 million in Indian real estate on its behalf, sources told Reuters at the time.
Also in July, Singapore’s GIC Pte Ltd., Temasek Holdings and Oman’s State General Reserve Fund committed to investing a combined $200 million in a real estate fund run by Indian mortgage lender HDFC Ltd.
The investments are a shot in the arm for India’s property developers, many of whom are burdened with debt that is expensive to service at steep interest rates.
Banks are also reluctant to lend because of fears of defaults, while private equity funds, which poured in billions of dollars at the height of the property market in 2007, have turned cautious after project delays impacted returns and exits.
Qatar fund in talks to invest $200m in Indian property
Qatar fund in talks to invest $200m in Indian property
Kuwait to boost Islamic finance with sukuk regulation
- The move supports sustainable financing and is part of Kuwait’s efforts to diversify its oil-dependent economy
RIYADH: Kuwait is planning to introduce legislation to regulate the issuance of sukuk, or Islamic bonds, both domestically and internationally, as part of efforts to support more sustainable financing for the oil-rich Gulf nation, Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah said on Wednesday.
Speaking at the World Governments Summit in Dubai, Al-Sabah highlighted that Kuwait is exploring a variety of debt instruments to diversify its economy. The country has been implementing fiscal reforms aimed at stimulating growth and controlling its budget deficit amid persistently low oil prices. Hydrocarbons continue to dominate Kuwait’s revenue stream, accounting for nearly 90 percent of government income in 2024.
The Gulf Cooperation Council’s debt capital market is projected to exceed $1.25 trillion by 2026, driven by project funding and government initiatives, representing a 13.6 percent expansion, according to Fitch Ratings.
The region is expected to remain one of the largest sources of US dollar-denominated debt and sukuk issuance among emerging markets. Fitch also noted that cross-sector economic diversification, refinancing needs, and deficit funding are key factors behind this growth.
“We are about to approve the first legislation regulating issuance of government sukuk locally and internationally, in accordance with Islamic laws,” Al-Sabah said.
“This enables us to deal with financial challenges flexibly and responsibly, and to plan for medium and long-term finances.”
Kuwait returned to global debt markets last year with strong results, raising $11.25 billion through a three-part bond sale — the country’s first US dollar issuance since 2017 — drawing substantial investor demand. In March, a new public debt law raised the borrowing ceiling to 30 billion dinars ($98 billion) from 10 billion dinars, enabling longer-term borrowing.
The Gulf’s debt capital markets, which totaled $1.1 trillion at the end of the third quarter of 2025, have evolved from primarily sovereign funding tools into increasingly sophisticated instruments serving governments, banks, and corporates alike. As diversification efforts accelerate and refinancing cycles intensify, regional issuers have become regular participants in global debt markets, reinforcing the GCC’s role in emerging-market capital flows.
In 2025, GCC countries accounted for 35 percent of all emerging-market US dollar debt issuance, excluding China, with growth in US dollar sukuk issuance notably outpacing conventional bonds. The region’s total outstanding debt capital markets grew more than 14 percent year on year, reaching $1.1 trillion.
