A push to build cities for the world’s most populous nation is attracting private credit investors to India just as troubles in China’s property sector weakens the appeal of investments there.
Apollo Global Management Inc. is exploring where it can put more cash after spending $1 billion on property investments, while Ares Management Corp. says more money will flow into Indian real estate. Rules restrict bank lending to the sector and India’s rapid urbanization has caused an affordable housing shortage.
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