Summary:
This includes seven large office parks, four citycentre office buildings and four Hilton and Four Seasons hotels. About 24-million-sqft assets are developed and the rest is under construction, sources said.The REIT generates annual income closer to Rs 2,200 crore. Marquee investors like Blackstone, Brookfield and GIC of Singapore, among others, own about 200 million sqft of Indian office assets. It is targeting a market value of around Rs 35,000 crore, or $5 billion, on debut, sources said. The country’s grade-A office market is estimated at over 500 million sqft with another 197 million in the pipeline, to be added over the next 4-5 years.India’s services-driven economy has seen annual office absorption topping 40 million sqft in recent years..