REITs: Sebi allows more investment in under-construction projects

The Securities and Exchange Board of India (Sebi) has relaxed rules on Real Estate Investment Trusts (REITs) by allowing them to invest more in under-construction projects, rationalised unit holder consent on related party transactions and removed restrictions on special purpose vehicle (SPV) to invest in other SPVs holding the assets.
The Sebi board has also approved changes to portfolio manager regulations to allow a foreign fund manager to relocate to India as an eligible fund manager. REITs are property trusts that pool investor money to invest in office buildings, shopping malls and rental housing.

Read more: Economic Times