DLF to not launch Real Estate Investment Trust public offer in next 12 months: CEO
Hindustan TimesReal estate major DLF has no plans to launch public offer of REIT in the next one year to monetise its rent-yielding commercial properties, its CEO Ashok Tyagi said. DLF holds bulk of its rental assets through joint venture firm DLF Cyber City Developers Ltd. DLF holds 66.67 per cent stake in DCCDL, while Singapore sovereign wealth fund GIC has 33.33 per cent shareholding. In the last two years, DCCDL has completed all homework to be ready to list its Real Estate Investment Trust on stock exchanges by launching an Initial Public Offering. In November last year, global investment firm Blackstone-sponsored Nexus Select Trust filed the draft paper with market regulator SEBI to launch India's first public issue of retail-assets backed REIT to raise around USD 500 million.