NCW, the equal joint venture between Nuvama Asset Management and Cushman & Wakefield Management Pvt Ltd, has successfully achieved the final close of its PRIME Offices Fund, raising nearly ₹4,000 crore from investors. The fund has already committed 45% of its capital toward acquiring institutional-grade office assets across major Indian cities.
Initially, NCW launched the PRIME Offices Fund with a target corpus of ₹3,000 crore to provide Indian investors access to high-quality commercial office real estate. However, the company increased the fund size after receiving strong investor interest and identifying attractive investment opportunities across India’s growing office market.
Furthermore, the fund has already deployed nearly half of its capital, reflecting strong execution and continued demand for premium office properties.
Commenting on the milestone, Gaurav Puri, Chief Investment Officer, NCW, said, “The successful final close of PRIME reflects conviction in both India’s office sector and our investment strategy.”
He further stated that India’s commercial office market continues to benefit from several long-term structural growth drivers. These include the rapid expansion of Global Capability Centres (GCCs), increasing front-office operations by multinational companies, and sustained demand for high-quality office workplaces across key business hubs.
Additionally, since its launch, the PRIME Offices Fund has built a portfolio comprising nearly 4 million square feet of premium office space across the country. The portfolio strengthens NCW’s position in India’s commercial real estate market while offering institutional investors exposure to income-generating office assets.
The continued growth of India’s office leasing market, coupled with rising demand for Grade A commercial properties, is expected to create further investment opportunities for institutional real estate funds over the coming years.
NCW’s successful ₹4,000 crore fundraising demonstrates strong investor confidence in India’s commercial office real estate market. By committing 45% of the capital and building a 4 million sq. ft. portfolio of premium office assets, the company has reinforced its long-term investment strategy. As demand for quality office spaces continues to rise, driven by GCC expansion and corporate growth, NCW remains well-positioned to capitalize on India’s evolving commercial real estate landscape.
