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Office space valued at $35b eligible to be listed under REIT
Research - APRIL 24, 2019

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Office space valued at $35b eligible to be listed under REIT

by Andrea Zander

India currently has $35 billion of office space eligible to be listed under the country’s new REIT regulations, according to JLL’s latest report, India REITs: Heralding a New Era in Real Estate Investments. The country’s commercial real estate market is estimated to provide 294 million square feet of REIT-able space from the existing office stock.

Bengaluru will provide the highest REIT-worthy commercial office assets, totaling 97.8 million square feet valued at around $10.7 billion. While Bengaluru occupies the largest share of 33 percent of REIT-able space across key cities, Mumbai accounts for a 17 percent share at 49.7 million square feet worth $8.6 billion. Delhi NCR and Chennai follow both in space and value terms.

“The listing of India’s first REIT heralds the institutionalization of real estate assets and indicates enhanced maturity and professionalism in the real estate market,” said Ramesh Nair, chief executive and country head at JLL Ind

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