India's first REIT is here: Embassy Office Parks proposes to raise Rs 52 bn

The joint venture of Blackstone and Embassy Group eyes Rs 52 bn through listing of 33 mn sq ft of office space

Embassy Office Parks, a joint venture between US private equity major Blackstone and Embassy Group, is set to file its offer documents with Sebi to raise around Rs 52 billion through the country's maiden Real Estate Investment Trust (REIT) listing.

According to sources in the know, the Bengaluru-based real estate group will on Monday file documents with the regulator to list 33 million square feet of office space.

Once listed, India will join the league of other countries such as the US, UK, Singapore and Japan which have vibrant REIT markets. In square footage term, this will be the biggest office