Blackstone, Embassy to launch India's first REIT to raise over Rs 5,000 cr
Global investment company Blackstone and realty firm Embassy Group will in a few weeks launch the country's first real estate investment trust (REIT) with an estimated issue size of Rs 5,000 crore, a top company official said. Embassy Office Parks, the joint venture firm of Blackstone and Embassy
Published -
Feb 25, 2019 6:30 AM
Global investment company Blackstone and realty firm Embassy Group will in a few weeks launch the country's first real estate investment trust (REIT) with an estimated issue size of Rs 5,000 crore, a top company official said. Embassy Office Parks, the joint venture firm of Blackstone and Embassy, had in September last year filed the draft red herring prospectus (DRHP) with the market regulator Sebi to launch REIT, touted as the Asia's largest in terms of portfolio size of 33 million sq ft. REIT is an investment tool that owns and operates rent-yielding real estate assets. It allows individual investors to make investment in this platform and earn income. Sebi had notified REIT's regulations in 2014, allowing setting up and listing of such trusts, which are very popular in some advanced markets.
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