DLF may go with GIC for REIT play
Real estate major DLF is pulling out all the stops to become a debt-free company as it weighs a plan to team up with GIC to float a part REIT in future, the company sources said.
But any REIT listing may have to wait.
GIC and DLF may decide to do a part REIT in future. However, we may not see REIT listing in the next 2-3 years. Terming the debt issue as “yesterday’s story”, DLF does not see it as an overhang anymore.
The debt load post qualified institutional placement (QIP) and promoter infusion is seen at close to Rs 2,000 crore.
The realty firm, in fact, is going ahead with the next round of project construction and continues to expand aggressively on the commercial leasing front.
“The next phase of Central Delhi project will start soon,” the sources added.