Brookfield Makes Massive $2 Billion India Real Estate Investment

Canadian asset manager Brookfield Asset Management (NYSE: BAM) is doubling down on its investments in India through a $2 billion real estate deal, its largest-ever purchase in the South Asian country.

Brookfield will buy 12.5 million square feet of commercial real estate assets from privately held developer RMZ Corp. The purchase includes rent-yielding office space and commercial co-working space.

A group of skyscrapers, seen from below.

Image source: Getty Images.

A growing presence

Brookfield already operates about 22 million square feet of office space in India. In September, it announced plans to raise up to $600 million by publicly listing its real estate investment trust (REIT), Brookfield India Real Estate Trust. That listing is expected to occur in December or early January.

And it’s not just commercial real estate: A group led by Brookfield’s subsidiary Brookfield Infrastructure (NYSE: BIP)(NYSE: BIPC) recently purchased a group of 135,000 Indian telecom towers from Reliance Jio Platforms in a

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Dispute between contractor, officials causes glut in Fazilka : The Tribune India

Our Correspondent

Fazilka, October 18

There has been glut in the grain market in the district following a dispute between a contractor and government officials over paddy lifting. Official sources said 4.5 lakh bags of paddy are yet to be lifted from the grain market.

After the cancellation of cartage contract of Nishant Gumber by the District Food and Supplies Controller (DFSC) on October 14 on the allegation of tardy lifting, the process has come to a standstill in the grain market during the peak season.

Gumber challenged the cancellation of the orders in the Punjab and Haryana High Court on October 16. The court stayed the impugned orders of the DFSC.

The respondents in the case include the Secretary and Director, Food and Supply and Consumer Affairs, Fazilka; MLA Davinder Singh Ghubaya and his father Sher Singh Ghubaya; DC; SSP and the DFSC.

Ghubaya and his father had staged

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PSPCL engineers resent sale of Bathinda thermal plant land : The Tribune India

Tribune News Service

Bathinda, October 15

The PSEB Engineers’ Association critised the decision of the Punjab State Power Corporation Limited (PSPCL) to sell the Guru Nanak Dev Thermal Plant (GNDTP) land in Bathinda to the Department of Housing and Urban Development.

Jasvir Dhiman, president, PSEB Engineers’ Association, said here today, “The PSPCL management has transferred the GNDTP land valuing Rs 4,000 crore to the Housing Department, and is now planning to sell it at Re 1 to private players for 99 years.”

Dhiman said, “In the name of a proposed pharmaceutical park at the thermal land, it is an attempt to fill the coffers of a few private players. The administration has broken the trust of farmers, who vacated their land for the thermal plant years ago. The people of Punjab have been coerced to pay high electricity charges.”

Jatinder Garg, senior vice-president, said, “It was proposed that the revenue

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