Two of the country's oldest conglomerates Tata and Shapoorji Pallonji groups are looking to build a strong portfolio of commercial properties, reported Business Standard.

The development came at a time when ‘global fund managers like Blackstone and Brookfield have pumped billions of dollars into such properties, the report said.

Tata Realty and Infrastructure (TRIL) already has properties of around 19-20 million square feet including IT parks and special economic zones, the report added. In addition, the group will likely double its portfolio in the next five years, it said.

On the other hand, the Shapoorji Pallonji group is looking to acquire projects with its partners — Germany’s Allianz and Abu Dhabi Investment Authority (ADIA), the daily said.