The second largest real estate firm in India by market capitalization, Unitech Ltd, is looking to float a Real Estate Investment Trust (REIT) in an overseas market. In an effort to raise US$ 2-3 billion to meet its expansion plans, Unitech and its investment arm will sell a stake in the six special purpose vehicles (SPV) that currently own six commercial properties to the Reit. According to the general manager in corporate planning at Unitech, the trust could likely be listed in Singapore, though Hong Kong or the London Stock Exchange were also considered as possible options.
source: LiveMint
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