Indian REITs Hobbled by Taxes Making Yields Uncompetitive to RMZ
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RMZ Corp., a landlord to Google Inc. and Boeing Co. in southern India, is planning to take its rent-yielding assets public in the first quarter of 2016 after the government last year announced rules to set up real estate investment trusts.
Where it will list the trust is another issue. RMZ, whose investors include Qatar Investment Authority and Barings Private Equity Partners, will consider selling units in Singapore if the Indian government doesn’t reduce taxes on REITs, RMZ Managing Director Raj Menda said.