Property developers gain on REIT guidelines

Reuters

Reuters Market Eye - Shares of real estate developers gain after the market regulator announced draft rules to allow the establishment of real estate investment trusts (REITs) in the country.

DLF Ltd (NSI:DLF.NS - News) gains 4.75 percent, while Unitech Ltd (NSI:UNITECH.NS - News) rises 7.52 percent and Indiabulls Real Estate Ltd (NSI:IBREALEST.NS - News) is up 2.77 percent.

A REIT structure would likely allow India's debt-laden property developers to monetise their assets by spinning them off into separate listed entities.

(Reporting by Himank Sharma)

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