Mumbai, Aug 3 (IANS): India ranked fifth in cross-border real estate investments in the Asia-Pacific region, attracting 9 per cent of the total volume of investment within the region in the first half this year, a report showed on Saturday.

According to a Knight Frank report, the total cross-border investments in APAC touched $11.5 billion, with India receiving $3 billion from global private equity investors.

Cross-border investments in Asia-Pacific are projected to rise by more than 33 per cent in H2 2024.

The expected turnaround of global economies in the second half of the year is likely to encourage more foreign private equity players to take advantage of the country’s robust domestic macros, according to the report.

“This influx of investment would boost the performance of Indian real estate and maintain the growth of industry assets,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India.

The office sector accounted for 36 per cent of the total global capital allocation, reflecting the strong appeal of commercial real estate assets.

The industrial sector followed closely with 30 per cent of the investment share, while the residential sector received 15 per cent and retail accounted for 10 per cent, as per the report.

According to the report, cross-border capital flows are significantly shaping the commercial real estate landscape in APAC, driving the search for new investment opportunities.