Alternative asset manager Brookfield’s announcement of its Rs 3,800-crore initial public offer (IPO) for its real estate investment trust (REIT) further strengthens India’s story of attracting global institutional capital for commercial real estate.
It allays fears of disruption in office space due to COVID-19 and the emphasis on work from home, say real estate experts, adding that it would encourage more real estate asset owners to come up with REIT listings in the future.
Amidst the COVID-19 pandemic, alternative asset manager Brookfield on January 29 announced its Rs 3,800-crore initial public offer (IPO) for its real estate investment trust (REIT), giving investors a share of over 1.4 crore square feet of its commercial properties across the country. This is the first REIT in Asia for Brookfield.
The global asset manager said there is no data to suggest that the work-from-home concept is the new normal and exuded confidence that benefits like closely working together for productivity purposes will eventually get teams to work from offices. The issue will open for subscription on February 3 and close on February 5, and bids can be made for a minimum of 200 units and in multiples of 200 thereafter by bidders other than anchor investors.