[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.
The successful launch of India's second REIT with an issue size of Rs 4,500 crore and its
listing on bourse at 11 per cent premium on Friday will encourage more builders to monetise
their rent yielding commercial assets through this route, according to industry experts.
The participation of retail investors will also increase in future REITs, enabling them to earn
dividend income from fully leased and listed commercial real estate, they added.
Mindspace Business Parks REIT, which is owned by K Raheja and Blackstone, made its
market debut on Friday, with a premium of nearly 11 per cent against its issue price of Rs
275 per unit.
The units of the REIT are listed at Rs 304, reflecting a gain of 10.54 per cent from the issue
price on the BSE.
This is India's second REIT, the first Embassy Office Parks got listed in April last year after
raising Rs 4,750 crore.
Commenting on the listing, Jonathan Gray, president and chief operating officer of Blackstone,
said: "Blackstone is honored to be partners with the Rahejas to help create India's second
public REIT. Like Embassy last year, Mindspace has tremendous assets and a real
commitment to producing shareholder value."
Read more at: https://www.business-standard.com/article/markets/india-s-second-reit-to-encourage-more-builders-to-monetise-assets-experts-120080701315_1.html
Have a nice day