The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Indian Reits continue to tap Singaporean liquidity

India’s stock markets might be going to rack and ruin but leading domestic real estate firms are queuing up to sell shares in real estate investment trusts (Reits) in Singapore.

The largest Indian realty firm seeking to list a Reit structure in the Lion City is also the country’s leading listed property firm. Delhi-based DLF is putting together a $1.5 billion Reit that is set to complete its Singapore initial public offering in the second quarter of this year, despite, in the words of one investment banker, "just truly appalling market conditions".

Two other domestic firms are also lining up to sell shares to global investors via Reit structures on the Singapore bourse.

Unitech, which is also listed on London’s AIM, plans to raise upward of $700 million via a Singapore listing. The Indian company has not yet finalized its plans but it is expected to suck several large land banks into its new structure, named Unitech Office Trust, including six information technology parks and special economic zones dotted around India, with a total leasable area of more than 10 million square feet.

Finally, there is Indiabulls Real Estate, one of the country’s youngest but fastest-growing property firms. The company, which also runs a hugely successful financial services division, is seeking a Singapore listing by mid-March of its recently created division, Indiabulls Properties Investment Trust (IPIT).

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree