Real Estate Investment Trust (REIT) firms in India are discussing plans to form an association to represent the industry and promote the emerging product. The association could be on the lines of the Association of Mutual Funds in India (AMFI).
An association to represent the REIT sector will help carry out awareness jointly about the innovative product, which holds tremendous opportunity. Details for the formation of the association are still being worked outw ith all stakeholders, including the Securities and Exchange Board of India.
There is 57 per cent untapped potential for Real Estate Investment Trusts (REITs) in India and currently, total space under REIT management is estimated at 100 million sq ft.
As per industry experts, the formation of the association is a positive development for the REIT sector in India as the association could help to promote the product and make it more accessible to investors.