350 mn sq ft office space worth $60 bn to get SM-Reit listing by 2026: CBRE

Around 350 million square feet of prime office space, valuing more than USD 60 billion, will become eligible by 2026 to get listed as Small and Medium Real Estate Investment Trusts (SM-REITs), according to CBRE.

In March, capital markets regulator Securities and Exchange Board of India (Sebi) notified the framework for SM-REITs. At present, there are no listed SM-REIT in the country.

Real estate consultant CBRE on Thursday released its report titled, 'Navigating the SM REIT Landscape - A Look at Regulations and Implications'.

As per the report, the total completed office stock in India currently stands at over 800 million square feet, of which REIT-listed office inventory is over 88 million square feet.

"The potential market for SM-REITs in India covers over 300 million square feet of completed commercial space, besides an additional 50 million square feet of space expected to be completed by 2026. This translates into an estimated market size of over USD 60 billion," the consultan