Indian office REITs lead today’s real estate news from around Asia as Brookfield Asset Management gets ready to list its first real estate trust on the subcontinent, as Blackstone celebrates the success of its second such offering.
Also in the headlines, Singapore’s sovereign wealth fund reports its worst performance since the global financial crisis and Hong Kong’s retail rents continue to slide.
Canadian alternative investment major Brookfield Asset Management is planning to raise $500 million to $700 million by listing a real estate investment trust (REIT) in India 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. At $700 million, this would be India’s largest REIT issue so far. Read more>>
The initial public offer (IPO) of Mindspace Business Parks REIT witnessed a healthy subscription of 38% on