DSP Merrill Lynch has appointed Nipun Sahni director and head of India global commercial real estate. Sahni's will be responsible for the firmÆs real estate principal investments in the country, based in Mumbai.

Hemendra Kothari, chairman, DSP Merrill Lynch, says, "Nipun's appointment is a strategic addition to our team and underscores our commitment to expanding our business lines in India. We look forward to capitalising on the many opportunities within the rapidly emerging real estate sector in the country."

Timothy Grady, managing director and head of Pacific-Rim global commercial real estate, Merrill Lynch says ôNipunÆs appointment significantly increases our bandwidth and footprint on the ground in India as we continue to roll out our commercial real estate investment platform in the country.ö

IndiaÆs real estate market has attracted interest from a host of global players including Citigroup, Goldman Sachs, Morgan Stanley and others. With the Indian economy forecast to grow at 9% this year, real estate in the country is still considered undervalued. However, a huge run-up in asset prices over the last few years has made it critical to place bets carefully going forward.

Sahni joins from GE Commercial Finance in India, where he was country head of real estate. He has also worked with Ranbaxy. Sahni completed a masters in finance degree from the University of Delhi in 1994.