[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.
Here I have important INDIA real estate news to share with you which is as mention under.
MUMBAI: Canadian alternative investment major Brookfield Asset Management is planning to
raise $500 million to $700 million by listing a Real Estate Investment Trust (REIT) by the end of
current financial year, said two persons with direct knowledge of the development.
“The process for monetizing Indian assets through REIT listing by roping in investment bankers
has already started. The proposed REIT is expected to be listed by March end,” said one of the
persons mentioned above.
The exact size, dilution and other such factors will be finalized soon along with the assets that
would be offered under this offering, he said.
India’s REIT segment is now catching momentum with large portfolio owners increasingly
gearing up to list part of their holdings here after the successful listing and performance of
maiden REIT Embassy Office Parks.
This REIT backed by Embassy Group and US private equity major Blackstone Group has so far
provided returns of over 22%, since its listing last year, including distribution and 14% price
Backed by K Raheja Corp and Blackstone, the country’s second REIT issue Mindspace Business
Parks that aims to raise Rs 4,500 crore also opens on Monday. With both strategic and anchor
investments worth Rs 1,125 crore and Rs 1,519 crore, respectively, the proposed REIT issue
already stands nearly 59% subscribed.
Read more at: https://realty.economictimes.indiatimes.com/news/industry/brookfield-asset-management-gears-up-for-500-700-million-reit-offering/77179234