By P.R. Venkat

Allianz Real Estate, a unit of Allianz SE (ALV.XE), will invest $150 million in an office-development platform managed by India's Godrej Group.

The platform managed by Godrej plans to develop premium-grade offices in tier-one Indian cities, the German insurance and financial-services group said in a statement Tuesday.

Allianz said the investment is part of its strategy to allocate 50%-60% of its real-estate exposure within the Asia-Pacific region, especially in fast-growing markets such as China and India.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

August 12, 2019 20:52 ET (00:52 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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