JLL: India's office sector offers $ 61 bn REIT listing chance

25 May 2023 CW Team

JLL has suggested that India's grade A office market, which spans 393.7 million sq ft across the top seven cities and is valued at over $ 61 billion through a real estate investment trust (REIT). The successful listing of three office asset-based REITs and one retail asset-led REIT in India since 2019 has received positive feedback from both institutional and retail investors.

A recent report states that the introduction of a retail asset-led REIT initial public offering (IPO) has brought about a significant change in the real estate market. This has resulted in diversification across various asset classes in India and paved the way for more REITs covering different types of assets.

JLL's analysis reveals that among the top seven cities, Bengaluru holds the largest share of office space at 32%, followed by Delhi NCR at 15%, and Mumbai at 14%. The suitability of these cities for REITs is determined by factors such as asset size, quality, ownership pattern, and occupancy levels.

Samantak Das, Chief Economist and Head of Research & REITs at JLL India, stated that India's office segment has been highly attractive to global investors due to strong demand growth, low vacancy rates, and increasing rentals. Institutional investments in office space have reached $28 billion between 2005 and 2022, accounting for 42% of the total investments across all real estate segments.

The office spaces managed by REITs have experienced significant expansion, growing from 24.8 million square feet as of March 31, 2019, to 74.4 million square feet as of March 31, 2023.

Also read:
Realty boom in Telangana hits a pause
Indian REITs drive growth in commercial real estate market

Infrastructure Transport

19 Sep 2025

Maharashtra Approves Rs 9.31 Bn for Bhandara–Gadchiroli Expressway

The Maharashtra cabinet, chaired by Chief Minister Devendra Fadnavis, has approved the revised design and funding of Rs 9.31 billion for the Bhandara–Gadchiroli controlled access expressway, a project expected to enhance connectivity across Vidarbha.The 94.2 km expressway, to be implemented by the Maharashtra State Road Development Corporation (MSRDC), will cut the Bhandara–Gadchiroli distance by 23 km and reduce travel time to 1.5 hours. Of the sanctioned funds, Rs 5.34 billion has been earmarked for project work and Rs 3.96 billion for interest, with land acquisition to begin shortly.The..

Waaree Energies to Offload 14.66% Stake in Indosolar via OFS

Waaree Energies, promoter of Indosolar, will sell up to 61 lakh equity shares, representing 14.66 per cent of Indosolar’s paid-up capital, through an Offer for Sale (OFS) on stock exchanges. The move is aimed at meeting SEBI’s minimum public shareholding (MPS) norms.The OFS will open for non-retail investors on September 18 (T-day), followed by retail investors on September 19 (T+1 day), through a dedicated trading window. Each share carries a face value of Rs 10.Antique Stock Broking has been appointed as the seller’s broker to manage the transaction, ensuring compliance and transparenc..

Gujarat Adds 6,632 MW Renewable Capacity in 2025

Gujarat has added 6,632 MW of renewable energy capacity between April and August 2025, taking its total installed capacity to 39,275.7 MW.The surge is driven by large-scale solar parks, hybrid solar-wind projects, and enhanced transmission infrastructure, further cementing Gujarat’s position as a renewable energy leader.Officials said the expansion supports the state’s sustainable energy goals while strengthening grid reliability and ensuring long-term energy security.News source: Bharat Aawaz ..