More REITs in India to be listed in 2021: JLL

25 Mar 2021 CW Staff

According to a report by global real estate service firm JLL, more Real Estate Investment Trusts (REITs) in India are set to be listed in 2021 and beyond.

JLL said in its report that real estate assets in India worth Rs 286,000 crore is suitable to be listed under REITs. India currently has three listed REITs that are traded on bourses—Mindspace Business Parks, Embassy Office Parks, and the recently listed Brookfield India Real Estate Trust.

According to JLL, India's current office markets across seven major cities have a potential space of 284 million sq ft that could be securitised with an estimated value of Rs 262,800 crore.

The JLL report has said that the number of buyers and sellers will broaden significantly with the listing of more REITS in India, further increasing market liquidity and yield compression and the incentive to securitise property assets.

Bengaluru is identified as India's largest source for potential assets available for securitisation, accounting for 31% or 88 million sq ft of REIT worthy assets, valued at Rs 81,468 crore.

With large IT spaces and housing global occupiers, the southern metropolis will be the most favoured market for newly listed REITs, given that most assets are singly owned by developers or large funds, allowing for the aggregation of assets into managed structures.

The Covid-19 pandemic has decreased the attraction of REITs as they have not performed that well in recent times. Brookfield is down 8% in the last one month. Mindspace has fallen 8% in the last three months and Embassy 5% in the same period. However, this is unlikely to affect the pace of securitisation of assets, as per JLL.

There are opportunities for institutional investors to participate in this structural theme, potentially by assembling complementary portfolios for securitisation into REITs or co-investing with existing platforms pre-IPO.

Several factors have given investors and regulators more confidence in the REIT space's future in 2021 and into the future. The first two listed REITs' healthy performance lowered the marginal cost of capital for Indian real estate. Additionally, REIT sponsors successfully recycled capital post-listing through asset divestments and rationalisation of their equity stakes, which raised institutional groups confidence to acquire larger portfolios, JLL has stated in the report.

Image Source

Also read: Legislations to be amended to fund InvITs, REITs

Also read: Opinion: Union Budget a booster shot for the real estate sector

According to a report by global real estate service firm JLL, more Real Estate Investment Trusts (REITs) in India are set to be listed in 2021 and beyond. JLL said in its report that real estate assets in India worth Rs 286,000 crore is suitable to be listed under REITs. India currently has three listed REITs that are traded on bourses—Mindspace Business Parks, Embassy Office Parks, and the recently listed Brookfield India Real Estate Trust. According to JLL, India's current office markets across seven major cities have a potential space of 284 million sq ft that could be securitised with an estimated value of Rs 262,800 crore. The JLL report has said that the number of buyers and sellers will broaden significantly with the listing of more REITS in India, further increasing market liquidity and yield compression and the incentive to securitise property assets. Bengaluru is identified as India's largest source for potential assets available for securitisation, accounting for 31% or 88 million sq ft of REIT worthy assets, valued at Rs 81,468 crore. With large IT spaces and housing global occupiers, the southern metropolis will be the most favoured market for newly listed REITs, given that most assets are singly owned by developers or large funds, allowing for the aggregation of assets into managed structures. The Covid-19 pandemic has decreased the attraction of REITs as they have not performed that well in recent times. Brookfield is down 8% in the last one month. Mindspace has fallen 8% in the last three months and Embassy 5% in the same period. However, this is unlikely to affect the pace of securitisation of assets, as per JLL. There are opportunities for institutional investors to participate in this structural theme, potentially by assembling complementary portfolios for securitisation into REITs or co-investing with existing platforms pre-IPO. Several factors have given investors and regulators more confidence in the REIT space's future in 2021 and into the future. The first two listed REITs' healthy performance lowered the marginal cost of capital for Indian real estate. Additionally, REIT sponsors successfully recycled capital post-listing through asset divestments and rationalisation of their equity stakes, which raised institutional groups confidence to acquire larger portfolios, JLL has stated in the report. Image Source Also read: Legislations to be amended to fund InvITs, REITs Also read: Opinion: Union Budget a booster shot for the real estate sector

Infrastructure Urban

14 May 2026

Maharashtra Clears Rs 317.93 Bn For Virar Alibaug Corridor

Maharashtra has granted administrative approval for phase one of the 14-lane Virar-Alibaug Multi-Modal Transport Corridor, an access-controlled route to improve connectivity across the Mumbai Metropolitan Region and link the Jawaharlal Nehru Port Authority, Navi Mumbai International Airport and the Mumbai Trans Harbour Link. The first phase spans 126.06 km and is estimated at Rs 317.93 billion. The Urban Development Department lists the construction cost at Rs 215.34 billion. The alignment is proposed through 104 villages across Vasai, Bhiwandi, Kalyan, Ambernath, Panvel, Uran, Pen and Alibaug..

Infrastructure Urban

14 May 2026

Gurugram To Control Streetlights Via Mobile App

The Municipal Corporation of Gurugram has announced a mobile app based system to operate and monitor the city streetlighting network as part of a smart city upgrade. The initiative will bring 0.112 million streetlights under digital control, replacing the previous practice in which workers manually switched lights across different sectors. The programme is intended to improve maintenance efficiency and strengthen the digital infrastructure of the city. The move aligns with broader urban digitalisation efforts in the region. The platform will allow officials to operate the streetlights remotely..

Technology

14 May 2026

Ahmedabad Plans Singapore Style Artificial Intelligence Indoor Garden

Ahmedabad will host a proposed Singapore style indoor garden on the Sabarmati Riverfront, a project unveiled at the Vibrant Gujarat regional conference by Simon Wong. The proposal, modelled on Singapore's Gardens by the Bay, aims to blend architecture, ecology and technology to create a year-round attraction. Organisers positioned the scheme as part of broader smart city and tourism ambitions for the region. The project is planned as a climate-controlled dome designed to recreate a tropical forest environment with artificial rain simulation, immersive fog and dense tropical plantations. Advanc..