{"id":9730,"date":"2021-12-19T11:06:38","date_gmt":"2021-12-19T05:36:38","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-tatarealty\/"},"modified":"2021-12-19T11:13:20","modified_gmt":"2021-12-19T05:43:20","slug":"biz-tatarealty","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-tatarealty\/","title":{"rendered":"Tata Realty may look at launching REIT after 2-3 yrs; expanding commercial properties portfolio"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3251595004\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>       New Delhi, Dec 19 (PTI) Tata Realty and Infrastructure Ltd will scale up its commercial real estate portfolio to at least 12 million square feet over the next 2-3 years before considering launching real estate investment trust (REIT) public issue to monetise its rent-yielding office assets.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3720866493\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>        In an interview with PTI, the company&#8217;s Managing Director (MD) and Chief Executive Officer (CEO) Sanjay Dutt said the company has 7 million square feet of rental commercial portfolio, almost all are office assets, and it is making huge investments on expansion.<\/p>\n<p>        On Saturday, Tata Realty announced an investment of Rs 5,000 crore over the next 7-8 years to develop a 7 million square feet IT park project in Navi Mumbai in partnership with UK-based investment firm Actis.<\/p>\n<p>        Asked whether the company would at some stage look at floating REIT public issue, Dutt said: &#8220;We will. We already have 7 million square feet. So, technically we can do it (REIT) today.&#8221;          &#8220;But we are thinking that over the next 2-3 years once we scale up our portfolio, then study the market, discuss with our partners and then think of REIT,&#8221; he said.<\/p><div class=\"trade-content_5\" id=\"trade-2402720722\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>        In the next 2-3 years, Dutt said the company intends to expand its portfolio to &#8220;at least 12 million square feet&#8221; before considering REIT.<\/p>\n<p>        The occupancy level in its operational commercial buildings currently stands at around 95 per cent.<\/p>\n<p>        At present, there are three listed REITs &#8212; Embassy Office Parks REIT, Mindspace Business Parks REIT and Brookfield India Real Estate Trust &#8212; on Indian stock exchanges.<\/p>\n<p>        Apart from IT parks and data centres, Tata Realty will also make investment in development of shopping mall projects in major cities like Delhi-NCR, Mumbai and Bengaluru.<\/p>\n<p>        &#8220;We will continue to invest in retail also,&#8221; Dutt said.<\/p>\n<p>        The company had in late 2019 sold two shopping malls in Amritsar and Nagpur to Singapore-based Virtuous Retail South Asia for Rs 700 crore.<\/p><div class=\"trade-content-10\" id=\"trade-1799583028\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>        Dutt said the company had divested these retail assets as it wanted to focus on major cities.<\/p>\n<p>        Out of the total 7 million square feet portfolio, the company currently has a 3,00,000 square feet multi-level car parking cum retail project in Gurugram, Haryana.<\/p>\n<p>        As part of its expansion plan, Tata Realty on Saturday laid the foundation of its new IT park project &#8216;Intellio Park&#8217;, spread over 47.1 acre land at Ghansoli, Navi Mumbai.<\/p>\n<p>        &#8220;On this land parcel, we are doing 7 million square feet of development, predominantly IT space and data centres with some complementary retail and non-IT office space,&#8221; Dutt said.<\/p>\n<p>        &#8220;The total investment on this project is Rs 5,000 crore. This is Tata Realty&#8217;s largest single investment in office real estate,&#8221; he highlighted.<\/p>\n<p>        In the first phase, the company is developing 5 lakh square feet (0.5 million square feet) building.<\/p>\n<p>        &#8220;We are already in the market to pre-lease 5 lakh square feet or even more. We can do built-to- suit for corporates. We are in discussion for development of data centres,&#8221; he said.<\/p>\n<p>        The Navi Mumbai area commands a monthly rental of Rs 60-70 per square feet. Annually 2-3 million square feet office space gets leased in Navi Mumbai.<\/p>\n<p>        Tata Realty and Infrastructure Ltd, which is a 100 per cent subsidiary of Tata Sons, has an extensive portfolio of over 50 projects across 15 cities.<\/p>\n<p>        The company has developed over 15 million square feet of commercial projects and has around 12 million square feet of projects under development &#038; planning.<\/p>\n<p>        REIT, a popular instrument globally, was introduced in India a few years ago for attracting investment in the real estate sector by monetising rent-yielding assets.<\/p>\n<p>        It helps unlock the massive value of real estate assets and enable retail participation.<\/p>\n<p>        The first REIT of Rs 4,750 crore issue size was listed in April 2019 by Embassy Office Parks, backed by Bengaluru-based Embassy group and global investment firm Blackstone.<\/p>\n<p>        In August last year, K Raheja  backed Mindspace Business Parks launched the country&#8217;s second REIT to raise Rs 4,500 crore.<\/p>\n<p>        Global investment firm Brookfield launched the country&#8217;s third REIT this year to raise Rs 3,800 crore. Realty major DLF is also making its rental arm DLF Cyber City Developers Ltd (DCCDL) REIT-ready. PTI MJH MR   MR<\/p>\n<div class=\"trade-after-content\" id=\"trade-284395002\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Dec 19 (PTI) Tata Realty and Infrastructure Ltd will scale up its commercial real estate portfolio to at least 12 million square feet over the next 2-3 years before considering launching real estate investment trust (REIT) public issue to monetise its rent-yielding office assets. In an interview with PTI, the company&#8217;s Managing Director [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-9730","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tata Realty may look at launching REIT after 2-3 yrs; expanding commercial properties portfolio - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-tatarealty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tata Realty may look at launching REIT after 2-3 yrs; expanding commercial properties portfolio\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Dec 19 (PTI) Tata Realty and Infrastructure Ltd will scale up its commercial real estate portfolio to at least 12 million square feet over the next 2-3 years before considering launching real estate investment trust (REIT) public issue to monetise its rent-yielding office assets. 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