DLF to bring malls under SPVs

DLF, the country’s largest real estate developer, is planning to bring its mall assets under separate special purpose vehicles (SPVs) so that it can sell stakes in them and convert them into real estate investment trusts (REITs) in the future. The company could raise as much as $1 billion through this route, a executive aware of the plan said. DLF owns half-a-dozen malls with a total area of 3.6 million sq ft and, including its office properties, the company earns a rental income of Rs 2,400 crore. The value of its rental assets is about Rs 22,700 crore, according to Axis Capital.

Read more: Business Standard