Quotes of Real Estate Experts on Mindspace REITs

Only the second REIT to be listed in India so far, Mindspace Business Parks has already received commitments worth Rs1,125cr from strategic investors such as Singapore’s sovereign fund GIC, Capital Group, Fidelity and Fullerton at the price of Rs275 per unit.

Jul 23, 2020 08:07 IST India Infoline News Service

Mindspace Business Parks REIT initial public offering (IPO) is set to open for subscription on July 27 2020. Only the second REIT to be listed in India so far, Mindspace Business Parks has already received commitments worth Rs1,125cr from strategic investors such as Singapore’s sovereign fund GIC, Capital Group, Fidelity and Fullerton at the price of Rs275 per unit.

Mani Rangarajan, Group COO, Housing.com, Makaan.com, PropTiger.com
Post the lockdown, amid work from home gaining traction, the demand for commercial properties has been adversely impacted. But if the upcoming Mindspace REITs is any indication, it can safely be concluded that real estate would remain one of the preferred investment choices for a vast chunk of people. It reaffirms the findings of our recent survey which Housing.com conducted in association with NAREDCO, wherein 35% of respondents choose real estate as the best investment tool. With the kind of stability it brings to the table, the real estate sector will bounce as soon as the pandemic subsides.

Sanjeev Arora, Director, 360 Realtors
The REIT is a competitive way of making good returns alongside portfolio diversification. So far based on the existing leasing, the weighted average rental is more than prevalent market prices. However, the downside risk of plummeting of growth rates in key sectors such as aviation, tourism, education, F&B, Events, etc. cannot be completely disregarded.

Published as received

The views and opinions expressed are not of IIFL Securities, indiainfoline.com

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