Brookfield, GIC may not set up any investment trusts in near term

Brookfield owns six special economic zones of Unitech Corporate Parks, the commercial property portfolio of the Hiranandani family in Powai along with Equinox Business Park in Mumbai

Canada’s Brookfield Asset Management and Singapore’s GIC, which own significant amounts of commercial properties in India, are not looking to float Real Estate Investment Trusts (REITs) in the country in the near term, said a person familiar with the development.

Brookfield, which holds a portfolio of 25 million square feet of office and retail assets, is adopting a ‘wait and watch’ policy so far as monetising its assets through REIT goes, said a person who is aware of its plans.

Embassy Office Parks, Blackstone’s JV with Embassy, which recently came out with its REIT issue, and the rental arm of K Raheja