India’s DLF To Be REIT Ready In A Few Months: CEO (Economic Times)
May 19, 2022 – Real estate developer DLF Ltd will be REIT ready in the next couple of months after completion of a majority of the preparatory work, senior executives of the company told investors during the Q4 analyst call.
“Most of the key decisions in terms of downstream, mergers and all, in principle, have been frozen, the asset perimeter has been frozen. We will, I think, sometime in the next four weeks have a Cybercity board meeting. So those issues are now hopefully behind us and we should be completely ready in the next few months, “said Ashok Kumar Tyagi, Whole Time Director & CEO of DLF Limited.
DLF had hired three top advisory firms – Morgan Stanley, KPMG, and Shardul Amarchand Mangaldas & Co – to help it prepare its rental-yielding commercial assets for a REIT listing in February of last year.
“Then it’s a question of a multiplicity of factors, including the interest rate, the timing and comfort of the two shareholders, and the improving vacancy levels, which will drive the timing of them. I would hate to conjecture on a speculative timeline, but as far as readiness is concerned, I think we are making good progress, “Tyagi said.
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