GULF investors will now be able to tap the $88.23 billion (INR6 trillion) affordable housing market following a tie-up between Mi Capital, a Dubai-based financial institution dealing in corporate finance, capital restructuring, mergers and acquisitions, and Life Insurance Corporation Housing Finance Ltd. Asset Management Company (LICHFLAMC).

LICHFLAMC is a subsidiary of LIC – India’s largest insurer and financial institution with $386 billion worth of Assets Under Management (AUM).

The Middle East has one of the highest concentration of High Net Worth Individuals (HNWIs) and family businesses with a large portfolio of investments scattered in different parts of the world. According to World Wealth Report 2018, the HNWI population in the Middle East exceeded 656,350 with $2.5 trillion worth of collective wealth that looks for lucrative investment destinations.

“With Indian economy growing at more than 7.5 percent per year, it is a good time for Gulf investors to look at the excellent opportunities offered by the growth of the Indian economy,” Sheetal Soni, Chief Executive Officer and Managing Partner of Mi Capital, said.

“While a good number of investors including companies and institutional investors investing in private ventures in India, we have tied up with LICHFLAMC – to offer best direct and indirect investment opportunities, without going through the usual complexities. The efficient management of LICHFLAMC has a solid reputation of generating the highest returns with efficient management and consistent track record.”

Many investors in the past faced daunting challenges in the field of project implementation due to the local conditions, we and our partners in India ensures that the project execution goes through smoothly and the internal rate of returns remain healthy, he pointed out.

“Working with right partner can help significantly in dealing with complexities of the Indian market, getting right deal flows on table, right structuring of the transactions, mitigating risk in the project, protecting from potential leakages etc. This is where Mi Capital and LICHFLAMC could offer direct, indirect or co-Investment opportunities in these sectors for investors, who may want to venture into Indian market alongside trusted partner,” Soni said.

“The recent Indian Government initiatives such as the Goods and Services Tax (GST) as well as the enactment of Real Estate Regulatory Act (RERA) and the launch of escrow account are helping in cleaning up the system and simplifying business processes that are helping the country attract more foreign investment. We see this as a great opportunity for the GCC investors to enter Indian market. Mi Capital is currently developing a strong corridor for investment in to India.”

He was speaking at the India Investment Meet in Abu Dhabi, supported by Abu Dhabi Chamber of Commerce and Industry. — SG