DLF Assets to list REITs in Singapore

India''s real estate major DLF is getting ready to list DLF Assets in Singapore in a $1.2 billion initial public offer (IPO). Close on the heels of taking DLF Ltd public with Rs 8,200 crore IPO, DLF could soon make a mark on the Singapore real estate investment trust (REIT) listing in January 2008. Singapore exchange has given an informal approval to the listing. DLF now has all the clearances and it is set to file the REIT listing document in first week of January to list its subsidiary DLF Assets. It plans to raise around $1.2 billion and will not hold a majority stake in the REIT. However, DLF is not the only company that is going to Singapore for a REIT, Indiabulls has just listed its REIT in Singapore and Parsvnath has formed a subsidiary for REIT. DLF might be looking at listing a REIT in Singapore but after a lot of deliberation even SEBI has got its act together and is looking at creating a REIT structure. REIT is a very lucrative exit option for developers across the world as it gives private equity players and financial institutions a chance to exit investments they have made in the realty sector.