The Reit finally got the go-ahead after pro-business prime minister Narendra Modi resolved lingering uncertainty around the double taxation of Reits
India’s first real estate investment trust, backed by Blackstone and its local partner Embassy Group, will be listed in Mumbai before the end of February, sources with direct knowledge of the deal tell Euromoney.
It is expected to raise at least $1 billion, most of it from global institutions keen to invest in high-end commercial property.
“It will happen over the next three to four weeks,” says a Mumbai-based individual close to the deal.
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