Partial stake sale by sponsor Blackstone has hit sentiment
Wadhwa group, one of the largest owners of office property in the BKC area, plans to float a REIT after onboarding an investor
In a circular, the regulator has specified manner of issuance of units under preferential issue as well as institutional placement by listed REIT and InvIT and lock-in period
India can raise $25 billion through REITs over the next three years listing around 150 million square feet of rent-yielding office properties, according to Anarock
Singapore is Asia's REIT capital, which means there's no dearth of well-managed investment vehicles
The money paid to unitholders can be in the form of dividend, interest income or rental income
Experts said the positive listing would help in opening of a new fundraising avenue
The JV company Embassy Office Parks' plan to submit application for REIT was delayed as George was undecided on bringing his share in Embassy Golf Links
DLF, Prestige have the largest commercial portfolios among listed entities but no immediate gains
Draft prospectus to be filed next week; second trust, with Panchshil, in a few months
DLF, India's largest developer, is looking to file for a real estate investment trust (Reit) in the current financial year, with the capital markets regulator, the Securities and Exchange Board of India (Sebi), clearing the norms for Reits on Friday."We are looking for an issue of Rs 12,000-1,4000 crore," said an executive in the company, adding that the proceeds from the issue will be used for debt repayment. "The issue should hit the market after the stake sale by our promoters."DLF promoters are looking to sell 40 per cent stake in its rental arm DLF Cyber City Developers (DCCDL) for around Rs 12,000 crore by next month and investors such as GIC and Blackstone are in the race to buy that.When contacted, DLF chief executive Rajiv Talwar said: "Sebi has sorted out most of the issues and we're looking to float an Reit soon," he said. He, however, declined to give a timeline for the issue, saying it depends on various approvals. DCCDL has 25-26 million sq ft of leased commercial space
Regulator proposes to ease REIT rules; allow foreign fund manager relocate India
Aim is to make REITs more attractive to investors by allowing them to invest a large portion of funds in under-construction assets
A REIT invests in real estate and trades on major exchanges like a stock
Blackstone, with its JV partner Embassy, had looked at floating a $2-billion REIT