RREEF Alternative Investments, the world's largest alternative investment business owned by Deutsche Bank, plans to invest more than $ 1 billion over three years in India's real estate and infrastructure assets. "It's a growing market. We think India will be an attractive emerging real estate and infrastructure market for our clients," said Kurt Roeloffs, managing director and chief executive officer, RREEF, Asia Pacific. RREEF is confident that over the time India will become an important investment destination for the firm's broad base of institutional, insurance and retail clients, he added.

Of its $91.3 billion of assets under management the largest in the world RREEF invests 85% in the real estate market, 14% in infrastructure and the remaining 1 % in private equity.

Currently, Indian property developers are seeking more capital to meet rising demands. India's economy has grown at an average annual rate of 8.7% since 2003, boosting incomes of individuals.

RREEF's alternative asset investments have doubled in the Asia-Pacific region over the past two years. Mr Roeloffs said assets under management in the region currently account for about 15% of its global total. He expects Asia to contribute a larger share of the pie in the next few years.

Separately, the Deutsche Bank arm on Monday acquired 60% in a joint venture with the real estate arm of Nagarjuna Constructions, NCC Urban Infrastructure. Kishore Gotety, country head, RREEF India Advisors, said: "The deal is a strategic development opportunity and in RREEF's view, Hyderabad is a very attractive real estate destination in India."

NCC and Deutsche together would invest in a $400-million project in Hyderabad, although Mr Gotety declined to specify how much each would invest. The 31 -acre project will have over five million square feet of office, residential, retail and hospitality spaces. Last year, Deutsche's RREEF unit made its first real estate investment in India by buying a stake in Golden Gate Properties for $70 million. Golden Gate, which has projects in Bangalore and Hyderabad, caters to the middle-income segment.