REIT

Market rumors indicate that DLF Assets may soon float a Real Estate Investment Trust in Singapore packaging its IT and SEZ space to raise upto USD 2 billion. Indian market news leader CNBC-TV18 indicates that the REIT may be launched in June, and that DLF Assets had delayed earlier plans to list the same due to Volatile Asian Markets.

Milestone capital advisors limited has announced a new development fund named Milestone Domestic Scheme II in response to the huge market demand for such products. Prospectus indicates that the investment focus will be on Tier II and Tier III cities which are relatively untapped markets and hence have good potential for professional investing

IL&FS-Milestone Fund-I, India’s first REIT like structure, has achieved first closing with its targeted initial subscription of over Rs 500 crore. The Fund has now exercised its Green shoe option of raising additional capital.

“On the Investment side, the Fund has already commenced operations, committing approximately 13 per cent of the funds raised and has a healthy pipeline of investment opportunities” said Mr Ved Prakash Arya, Managing partner and chief investment officer of IL&FS- Milestone Fund-1.