RIYADH: Blackstone Group is planning to list India’s first retail properties-centered REIT by mid-2022, with an estimated value of $2.2-2.5 billion, Economic Times reported, citing people with direct knowledge of the development.
The REIT’s portfolio entails a combination of its subsidiary Nexus Malls and assets acquired through a recent $1.5 billion deal with property development company Prestige Group.
A selection of investment bankers to handle the deal will be concluded by February, the sources said.