India currently has a housing shortage of 22 million units, and as the Indian economy grows, demand for residential and commercial properties is forecast to rise substantially. Demand is particularly acute in India's urban areas.
At the same time, increasing urbanization has greatly strained local infrastructure in major Indian cities. It has been estimated that by 2030, some 590 million people will live in India's cities.
The Indian government has announced several initiatives to improve India's housing and infrastructure.
This includes plans to rejuvenate city centres that, among other things, are seeing developers replacing older apartment buildings with larger, modern high-rises featuring upgraded infrastructure.
ICP Real Estate is targeting these developers for its loans.