EAAA India Alternatives Ltd, previously known as Edelweiss Alternatives, aims to expand its real estate portfolio to 9–10 million sq ft over the next three years, up from the current 2.5 million sq ft. This ambition follows their acquisition of three office properties worth Rs 3,000 crore in Gurgaon and Bengaluru, with plans to venture into warehousing, data centers, and student housing, as stated by a senior executive.
“We aim to acquire office buildings that can be upgraded for premium rental rates. There’s a noticeable demand-supply gap in commercial real estate, and with the increasing demand from GCCs, the need for Grade A offices is likely to rise,” said Subahoo Chordia, CEO of EAAA Alternatives.
The fund’s strategy emphasizes acquiring, operating, and managing high-quality infrastructure assets that present low counterparty risk, extended lease terms, and minimal operating costs.
Currently, EAAA Alternatives manages around $3.5 billion in assets across highways, renewable energy, power transmission, commercial real estate, and energy transition sectors.
“India has historically developed only about six cities with good educational and infrastructural facilities. Consequently, Grade A offices are primarily located in these cities, each boasting a unique talent pool driven by local educational institutions, which significantly influence office market dynamics,” Chordia explained.
The fund has acquired a 700,000 sq ft property in Gurgaon, a 1.4 million sq ft complex in Bengaluru, and is nearing completion of a transaction for an additional 500,000 sq ft.
“Once we assume control of a property, we undertake a comprehensive overhaul, and tenants are generally willing to pay for these enhancements. As IT sector leasing has plateaued, the office market has diversified, presenting more long-term viability,” the executive noted.
The firm highlighted that with $2–3 trillion in real estate required by 2035, India’s real asset market represents the largest untapped investment theme of the decade.
“We are actively exploring the warehousing sector, which has the potential for growth. Unlike office spaces that require central locations, warehouses can be situated anywhere. Although the rental growth is less pronounced compared to offices, it’s a burgeoning segment,” Chordia remarked.
The fund is open to greenfield projects in warehousing should suitable portfolio acquisitions not materialize within the next 12–18 months.
“Furthermore, student housing is poised for rapid expansion, bolstered by substantial government support. We’re also evaluating several data center projects, and if everything aligns, we anticipate reaching our goal of 9-10 million sq ft within three years,” the executive added.
As of the quarter ending June 2025, EAAA managed assets worth Rs 62,970 crore.
