[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.
Some of the world’s biggest investors are snapping up office space in India with plans to turn
them into real estate investment trusts, betting that demand will sustain and provide attractive
yields in coming decades.
Brookfield Asset Management Inc. in October agreed to pay $2 billion for 12.5 million square
feet of rent-yielding offices and co-working spaces in Asia’s No. 3 economy. That’s the biggest
real estate deal ever for India. Blackstone Group Inc. bought $1.2 billion of malls and other
commercial properties from a local developer, set to further expand its 9.6 million square
feet of fully-owned real estate assets in India.
These assets will probably be folded into existing REITs or listed as new ones, according to
the people with knowledge of the matter, who asked not to be identified citing rules.
Blackstone is the backer of Embassy Office Parks REIT, which raised $689 million in the
country’s first such listing in April 2019. That was followed by another REIT that’s also
backed by Blackstone in August, while Brookfield is looking to list one in Mumbai before the
end of this year. At least two more are in the pipeline for 2021, the people said.
Read more at: https://realty.economictimes.indiatimes.com/news/industry/decoding-the-sudden-rush-among-top-global-investors-for-indian-office-property/79636854
Have a nice day