A Blackstone-backed $4 bln real estate investment trust in India has thrived since going public in April, outpacing local blue-chips and defying a broader slowdown. It heralds more opportunities to enter this higher-yielding market. ugalani
Shares of Embassy Office Parks REIT closed on Sept. 24 at 393.90 rupees a share, a 28% increase since the company listed on April 1.
The Blackstone-backed commercial property venture is India’s first publicly-traded real estate investment trust, and the largest in Asia by square footage. It owns and operates 33 million square feet of so-called Grade A, or high-quality, office parks and centres across Mumbai, Pune, Bengaluru and the National Capital Region.
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