The Development Bank of Japan Inc. (DBJ) has made its inaugural investment in India’s real estate market by committing capital to the HDFC Capital Development of Real Estate Affordable and Mid-Income Fund (H-DREAM Fund). This investment signifies the entry of Japanese institutional capital into India’s residential property sector, which is increasingly attracting global investors due to urbanization and housing demand. The H-DREAM Fund, managed by HDFC Capital Advisors, aims for a total corpus of $500 million, with over $350 million already committed. This fund focuses on financing affordable and mid-income housing projects while adhering to the EDGE green building framework, promoting sustainability. Deepak Parekh, the non-executive chairman of HDFC Capital, highlighted the importance of this investment in reinforcing confidence among long-term investors in India. DBJ's investment strategy aims to support sustainable development in the Indian real estate market, addressing the ongoing housing shortage while enhancing its global portfolio diversification. The investment is facilitated through HDFC Capital’s offshore feeder fund structure established under the International Financial Services Centres Authority framework at Gujarat International Finance Tec-City (GIFT City).