The much awaited Real Estate Investment Trust (REIT) listing is inching closer to reality and India has rent- yielding office inventory of 537 million sq ft worth over $70 billion.
According to a joint report by KPMG, Naredco, Hariani & Company and Knight Frank, titled ‘REIT-able Space in India: A Closer Reality’, $121 billion or 1.73 billion sq ft occupied commercial real estate across office, retail and warehouse segments could potentially benefit from the REIT opportunity
According to the report, the Indian real estate market, which is supported by a strong economic growth, a large portfolio of completed commercial real estate projects and a conducive investment climate, offers a big opportunity for REITs.
In the case of office and retail, approximately 537 million sq ft and 75 million sq ft respectively is REIT-able area located in the top seven cities of Mumbai, NCR, Bengaluru, Chennai, Hyderabad, Kolkata and Pune. In the case of warehousing space, the all-India estimate is approximately 1,127 mn sq ft.
Read more: The Hindu