Office Stock Has $61 bn In Reit-Worthy Assets For Future Listing: Report
Reit-Worthy Assets – May 24, 2023: India’s Grade-A rental propertyAccording to real estate consultancy company JLL India, the A office market has 393.7 million square feet (msf) of Reit-worthy properties valued at over $61 billion for potential listing.
“Since 2019, three office asset-based real estate investment trusts (Reits) have successfully listed in India, receiving a positive reaction from institutional and retail investors. It is interesting that two of these Reits had a significant increase in interest during the epidemic, demonstrating the viability of this investing strategy. Due to the solid rent-yielding assets supported by reputable developer and asset management brands, prominent institutional and anchor investors were drawn to these listings, the global advisory firm said in a statement issued on May 23.
The affirmative performance evaluations of the list Reits are proof that properly manage investments with open systems enable investors to make better decisions, it was underlined.
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Office Stock Has $61 bn In Reit-Worthy Assets
“Due to high demand growth, decreased vacancy rates. And growing rentals, India’s office category has been the sweet spot for international investors. During the years 2005 to 22, institutional investments in office space totaled $ 28 billion. Or 42% of the total investments made across all real estate categories. The first three Reit listings in India were mostly made up of office properties. In the future, the top seven cities in India’s Grade-A office market will provide 393.7 msf of Reit-worthy assets valued at approximately $61 billion. According to Samantak Das, chief economist and head of research & REIS, India, JLL, Bengaluru leads the office space market with a 32% share, followed by Delhi NCR at 15% and Mumbai at 14%.
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According to data, the amount of office space handled by Reits has tripled. From 24.8 msf in March 2019 to 74.4 msf in March 2023. Over the previous three years. Reits’ revenues have increased at a compound annual growth rate of 5.5%, against 2% for comparable non-listed assets.
“Since the epidemic, there has been strong demand for hotels and retail, leading to altered asset pricing. Recent years have seen a substantial increase in warehousing as well. With platforms being use by international investors to aggregate these assets. The natural next step is to list these asset portfolios through Reits. The popularity of this investment vehicle is demonstrate by the enthusiastic reaction to the most recent Nexus Select Trust Reits, according to Lata Pillai. Senior MD and head of capital markets, India, for JLL. While the office sector will continue to have consistent increase in Reit listings, she says. The Indian real estate market is anticipated to see further listings of other asset classes.
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