DLF, Indiabulls bring back S`pore REIT listing from cold
Released on: May 10, 2008, 4:09 am
Press Release Author: varma
Industry: Real Estate
Press Release Summary: It's destination Singapore once again for realty majors Indiabulls and DLF Assets. After deferring their decision earlier this year, the two companies are once again planning to list their real estate investment trusts or REITs.
Press Release Body: It's destination Singapore once again for realty majors Indiabulls and DLF Assets. After deferring their decision earlier this year, the two companies are once again planning to list their real estate investment trusts or REITs.
Indian realty giants are headed to Singapore again. Both Indiabulls and DLF Assets will tap the Singapore market for their REITs, after having deferred their plans earlier this year due to market volatility.
The rethink is on account of a revival in the Singapore REIT market. Yields had taken a beating in the new year but have now recovered and are back at levels seen in October 2007. Unitech, which also has the required approvals, has no immediate plans of going ahead with its USD 700 million REIT. Indiabulls Property Investment Trust has already filed its prospectus with the SGX.
CNBC-TV18 has learned from sources that DLF Assets is likely to refile its prospectus for its REIT DLF Office Trust or DOT in June. Sources say DOT's portfolio comprises 4 IT/ITes SEZs with a total built up area of 20.5 million sq ft. We believe DOT is planning to raise over USD 2 billion from the IPO.
There's good news for shareholders of DLF Ltd. DOT had purchased properties from DLF Ltd at a fixed cap rate of 9%, which is quite high in the international market. If the true cap rate is discovered at a lower rate during the IPO, all the benefits will be passed on to DLF Ltd's shareholders. .......... For Latest Real Estate News: http://www.maaproperties.com/Pages/ModuleContent.aspx?Module=News
At Maa Properties, we have in-depth knowledge of property markets, extensive experience, specialized skills and resources necessary to provide an entire range of reliable and responsive property management services. No matter how far away you are currently located, our online services enable you to take charge of things and efficiently handle all property-related transactions back home.
We would like to take the opportunity to welcome all the community members living world wide to our real estate portal.(NRI)
For More Information about Real Estate Hyderabad, India visit: http://www.maaproperties.com/
2025
