Redevco is to target development opportunities in India after opening an office in New Delhi and promoting its senior research manager, Joris de van der Schueren, to lead the operation.
De van der Schueren was formerly senior manager of research and concepts at the asset management and development firm. He will now be country manager for Redevco Asia’s activities in India and will be based in the firm’s office in New Delhi, which is set to open later this year.
Joris will report to Robert Lie, who joined Redevco Asia as managing director in April, and is based in Hong Kong. Lie was previously the Asia chief executive officer at Dutch based ING Real Estate Investment Management.
Redevco, a spin-out in Europe from the C&A retail group, is owned by Cofra Holding, a Swiss-based holding company that only recently expanded real estate ambitions to Asia. In a statement, the firm said it saw opportunities in the coming decades owing to the rapid expansion of consumer spending in Asia.
The Amsterdam-based firm entered the Asia region earlier in 2008 with a $30 million investment in the Arch Capital Asian Partners fund. The firm said its main focus would be on developments in India and China.
“Especially India and China offer unparalleled opportunities because of their growing markets and high economic growth,” said Jaap Blokhuis, chief executive officer, at the time. “We want to build a sustainable portfolio in Asia as a long term player and we will therefore open our first office in Hong Kong, China.” From there the firm will build up a real estate portfolio comprising retail investments and developments, primarily new shopping center developments in major cities.
Oedsen Boersma is set to succeed de van der Schueren.