"It was a wonderful experience interacting with you and appreciate the way you have planned and executed the whole publication process within the agreed timelines.”
Subrat SaurabhAuthor of Kuch Woh Pal
This book covers India’s first Ph.D. thesis on REITs. It studies the role of REITs in real estate development and its implications on consumer purchase behaviour in India. REIT or Real Estate Investment Trusts was first introduced in the USA in early 1960. An estimated 87 million Americans own REITs through their retirement savings and other investment funds. REITs in the USA have a market cap of more than 1 trillion USD. Today, more than 37 countries have REITs, including all G7 countries. Pakistan and Saudi Arabia, too, have REITs. India’s first REIT, Embassy Office Parks listed on 1st April 2019, was Asia’s largest REIT by square footage (33 million sq.ft. total portfolio area). Embassy Office Parks REIT, a joint venture between Bangalore-based property developer, Embassy Group and private equity firm Blackstone successfully raised INR 4,750 crore from the primary market and is today (January 30th 2020) trading at almost 40% premium against a backdrop of global economic volatility and low economic sentiment in India. Realty Developer K Raheja and US private equity firm Blackstone Group will be offering through an IPO, INR 3,000 crore Mindspace Business Parks REIT in 2020. REITs can be hailed as the silver lining in an otherwise gloomy prospects of the real estate sector in India.
Dr. Adv. HARSHUL SAVLA
Dr. Adv. Harshul Savla is Principal Partner of M Realty (Suvidha Lifespaces) which has successfully completed more than 1.2 million sq.ft. in the last 25 years across Mumbai under the able leadership of Mr. Pramesh Rambhiya. CRISIL recognized Dr. Harshul as “Young Thought Leader” in 2011 and Realty NXT featured him as “Young Turk of Real Estate Sector”.
Dr. Harshul has worked as EA to Ramesh Nair, CEO and Country Head at JLL, India and has worked in the Wealth Management Team at TATA Capital. Dr. Harshul is a perfect blend of Corporate Experience along with the stellar education credentials of Ph.D., LL.M, LL.B, MBA and BMS. Apart from this, he is NSE Certified Market Professional – Level 4 and has done a course on ‘Strategic Real Estate Management’ from ISB, Hyderabad. As a matter of fact, he is one of the youngest member in the Managing & Core Committee of CREDAI-MCHI and is also a member of the NextGen Committee at NAREDCO.
Dr. Adv. Harshul Savla is also a Visiting Faculty at the prestigious RICS School of Built Environment, Mumbai Campus. Harshul teaches the subject of ‘Real Estate Development Process’ to their Management Students. He is also a Guest Lecturer at REMI – The Real Estate Management Institute, Mumbai. He was invited to conduct a session on REITs in India for Developer Members of NAREDCO and was one of the youngest speaker to do so. He has also delivered a lecture at PEATA (I) on the ‘Future of Realty’. In all, he is a Real Estate Developer, an Author, a Speaker on Realty and an Educationist with a long term vision on Realty.
