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Mon 30 Jan 2017 01:53 PM

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Abu Dhabi's SWF said to be in talks to build malls in India

Abu Dhabi Investment Authority reportedly in final talks with Indian consultancy Red Oak Retail

Abu Dhabi's SWF said to be in talks to build malls in India
Image for illustrative purpose only. (Getty Images)

UAE sovereign fund Abu Dhabi Investment Authority (Adia) is in final talks with Red Oak Retail, an Indian retail consultancy, to build malls in India, according to a news report.

“Unlike Blackstone and [Singapore sovereign fund] GIC, which invest in ready malls, Adia is looking at building malls with Ashwin Puri (CEO of Red Oak),” Business Standard, India’s business daily, reported an unnamed source as saying.

The investment amount is unknown, the newspaper said, adding an Adia spokesperson declined to comment on market rumours.

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