Industrial Investment Trust Limited (IITL), a non-banking financial company, plans to launch a Rs 500 crore Category-I alternative investment fund (AIF) targeting India’s real estate sector. The fund aims to capitalize on growth in residential and commercial real estate due to strong housing demand, record office leasing, and rising domestic tourism. IITL’s current portfolio is valued at Rs 405 crore, focusing on Tier 1 and Tier 2 cities in partnership with leading developers. The initiative aims to enhance urban development and generate value while IITL also plans to launch a housing finance company for home buyers.