Singapore’s sovereign wealth fund GIC, Qatar Investment Authority (QIA) and Abu Dhabi Investment Authority (ADIA) are in talks to invest about $400 million in Bengaluru-based real estate developer Prestige Estates.
According to a report in The Times of India, Prestige Estates is looking to monetise some of its retail mall and office assets, before it goes for a REIT (real estate investment trust) listing by the end of this year. REITs are listed entities that invest in leased office and retail assets allowing developers to raise funds by selling completed buildings to investors.
