Blackstone-backed Embassy Group planning India’s first REIT

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. https://twitter.com/ANI/status/1168037199767457792 Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....

Global real estate firm Blackstone’s Indian venture Embassy Group is planning to launch India’s first ever real estate investment trust (REIT) this year. People familiar with the matter claimed that the company could issue a draft prospectus by June.

Real estate investment trusts are companies that earn their profits by owning, operating and financing realty properties like office buildings, housing apartments, shopping complexes, hotels and warehouses. Their functioning is similar to mutual funds but they deal exclusively in real estate only.

Blackstone Group already has a very successful REIT business in the United States, and it counts global giants like Microsoft and IBM as tenants in its office spaces there. Its Indian arm, Embassy Office Parks Management Services Pvt. Ltd. had applied to SEBI for REIT registration in 2016.

Embassy group’s CEO Michael Holland said that the company is planning to issue bond-like securities to raise as much as $1 billion, depending on finer details of the plans. He explained that they are currently in the process of assessing seven different asset classes in multiple cities for inclusion into the proposed REIT structure.

SEBI had framed regulations for REITs in 2014 following the government’s green signal, but not a single such company has been established in India till date. Considering the fact that the global REIT industry billed over $1.7 in total earnings two years ago, Embassy group’s attempt could finally encourage investors to use the REIT model to boost India’s real estate sector.

- Advertisement -

Latest News

US President Donald Trump to attend Howdy Modi in Houston?

Indian Prime Minister Narendra Modi is supposed to visit the United States most likely would share a stage with...

Drone Strikes on Saudi oil facility knocks out half the oil supply of country

The Middle-East has been a volatile region for months now on Saturday the tensions increased in the region. On Saturday, Yamen based Houthi rebels...

Need to create more awareness on mental health: Deepika

New Delhi, Sep 15 (IANS) Bollywood star Deepika Padukone, who has openly spoken about her battle with depression at the peak of her career,...

e-office to help integrate Jammu and Kashmir into national mainstream

Srinagar, Sep 15 (IANS) Over one crore pages of files relating to the Jammu and Kashmir government that would be physically carted in trucks...

Former INLD chief of Haryana joins Congress

New Delhi Sep 15 (IANS) Ahead of the Haryana Assembly elections, the Congress received a boost as Ashok Arora, former state unit chief of...
- Advertisement -

More Articles Like This