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Brookfield India Real Estate Trust (BIRET) has announced plans to acquire 7.7 million sq ft of commercial assets in Bengaluru's Ecoworld Business Park for INR 13,125 crore. The deal, classified as a related-party transaction, will be executed on an arm's length basis. With this acquisition, BIRET aims to expand its portfolio by over 30%, marking its entry into Bengaluru, one of India's strongest office markets. The company currently operates 10 Grade A assets across major cities, including Delhi, Mumbai, Gurugram, Noida, and Kolkata.
Brookfield India Real Estate Trust (BIRET) has decided to acquire the 48-acre Ecoworld Business Park in Bengaluru, covering 7.7 million sq ft of office space, in a deal valued at about INR 13,125 crore. The proposed transaction will be treated as a related-party acquisition and conducted on an arm's length basis, according to the company's recent regulatory filing. Advertisement
The Board of Directors of Brookprop Management Services Pvt Ltd, which manages BIRET, has approved the acquisition of up to 100% of the equity share capital of Arliga Ecoworld Business Parks Pvt Ltd. The purchase, priced at INR 1,31,250 million, will be made from the existing shareholder, Ecoworld SPV, owned by BSREP III New York FDI I (DIFC) Ltd and its nominee, both part of the Brookfield group.
Alok Aggarwal, the CEO and Managing Director of BIRET, stated that this move builds on the company's record of inorganic growth. He noted that the acquisition of Ecoworld will mark BIRET's entry into Bengaluru, which is among India's strongest office markets. Aggarwal also highlighted that this expansion will increase the size of the REIT's portfolio by over 30%, making it a truly pan-India platform.
He added that BIRET's growth outlook remains strong with consistent leasing momentum, which positions the company well to deliver long-term value to its unit holders.
Currently, Brookfield India REIT manages 10 Grade A commercial properties spread across Delhi, Mumbai, Gurugram, Noida, and Kolkata. Its portfolio comprises 29.1 million sq ft of total leasable space, including 24.6 million sq ft of operating assets, 0.6 million sq ft under construction, and another 3.9 million sq ft marked for future development.
This move comes as the Bengaluru office market continues to attract large institutional investors, driven by steady demand from global capability centers and technology firms. The Outer Ring Road (ORR) corridor, where Ecoworld is located, remains one of the most active micro-markets in India for office leasing.
Source PTI
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