SEBI introduced guidelines for small and medium real estate investment trust (REITs) to regulate fractional ownership of real estate. The minimum subscription amount for an SM REIT’s initial offering is ₹10 lakh per investor, offering a more accessible entry point than the current norm.
Property Share, a commercial real estate investment platform, has launched its first India warehousing asset on its platform, which is a 9.1 percent yielding Grade A warehouse in Jaipur tenanted to Flipkart, totalling Rs 191 crores, the company said.
The company is also looking to accelerate its product development process and diversify investment offerings by buying larger assets, said its CEO Kunal Moktan. “We will focus on larger deals now, which are upward of Rs 300 crore in the commercial real estate space, to drive its growth as opposed to buying smaller assets,” he said.
The top five growth stage start-ups in the fintech sector
According to the company, PREF I has been fully deployed across four office assets in Bangalore and Mumbai which are 100% leased to Grade A tenants like LG, Tata Finance and 24/7 AI.
As the real estate investment landscape transforms, attention is turning to commercial properties due to their increasingly apparent advantages. Kunal Moktan, Co-founder of Property Share, sheds light on the differences between investing in residential and commercial real estate, the performance of the commercial real estate sector in India, the impact of sustainability on the industry, and the role of technology in democratising access to this asset class.
As part of its expansion into the United Kingdom, Property Share, a commercial real estate investment platform, plans to enable UK residents to invest on their platform by the end of this year. The platform has acquired three warehouses in the UK and aims to increase its portfolio value to approximately £100 million within the next 12 to 18 months, according to Kunal Moktan, CEO and Co-founder.
Tech-enabled commercial property investment platform Property Share has completed the acquisition of Prestige Tech Platina in Bengaluru for Rs 370 crore, the company said in a statement on July 12.
Property Share has paid approximately Rs 370 crore for a commercial property in Bangalore. Prestige Tech Platina will generate a rental yield of 10%, with a tenant lock-in lasting seven years, and is leased to a US technology company. JP Morgan and Adobe are also tenants in the larger development, which gives Property Share a real estate platform worth Rs 1,300, and its executives said they wanted to list between Rs 2,500 crore and Rs 3,000 crore of assets on the platform within a year.
India's Commercial Real Estate (CRE) sector has played a vital role in India's growth story, leading to significant development in office infrastructure, IT hubs and knowledge parks. It has provided employment opportunities, and created investment avenues for many. In 2022, Colliers reported that the total leasing in the country hit a record high of 50 million square feet, underscoring the sector’s momentum.
Proptech startup PropShare has raised USD 47 million (around Rs 367 crore) from investors including WestBridge Capital to ramp up hiring, strengthen technology and offer more asset classes for investments on its platform.
PropShare Capital, a tech-enabled investment manager, is looking to raise Rs 700 crore through its maiden real estate fund called PropShare Real Estate Fund I (PREF I), the company’s CEO and co-founder Kunal Moktan, told ET.
Online real estate investment platform Property Share, which allows shared ownership of property, has raised close to $2 million in Series A funding round led by Lightspeed Venture Partners. Beenext Singapore, Pravaga Ventures Trust, and a clutch of other investors also participated in the round, according to filings with the Registrar of Companies.
Modal body text goes here.
Would you like us to notify you on new listings and updates?