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REITs may Lead to Overall Recovery of Real Estate Sector
| May 20, 2009 |  (Be the first to rate this story!) Loading ... |
The marked improvement in the performance, in recent months, of Real Estate Investment Trusts (REITs), including those set up by Indian developers, is being seen as a pointer to an imminent revival in the property market. Indian property developers’ overseas-listed REITs such as Ascendas, Hirco, Unitech Corporate Park and Ishaan have nearly doubled in value from a year ago, even as the FTSE Global Real Estate Indices for Asia, Europe and the US have appreciated by 50% since March 2009.
The improved market conditions could also pave the way for the REIT listings of DLF and Unitech, which have been put on hold. REITs are entities that own and manage a portfolio of real estate properties. Anyone can invest in a publicly-traded REIT, which is seen providing the advantages of liquidity and diversity because it invests in a portfolio of properties. REITs are currently not allowed in India, but the Securities and Exchange Board of India has rules for its implementation.
News Published Under: Real Estate Developers |
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