Brookfield India Real Estate Trust Ranked #1 for Management Score in Asia

Brookfield India Real Estate Trust (BIRET) has achieved a significant milestone by securing the top spot for Management Score in Asia according to GRESB, a global ESG benchmark that is investor-driven. BIRET stands out as India’s inaugural real estate investment trust that is entirely institutionally managed. This achievement highlights the trust’s commitment to sustainability and excellence in the realm of real estate development and operation in Asia.

By maintaining its prestigious five-star rating from GRESB for the second consecutive year, BIRET has effectively set a benchmark for the industry, showcasing itself as a leading sustainable office developer and operator in the region.

BIRET’s holistic ESG (Environmental, Social, and Governance) program plays a pivotal role in driving value, encompassing initiatives in both environmental and social aspects. The trust is dedicated to making a positive impact on its surroundings by fostering the creation of safe, sustainable, and vibrant communities throughout the entire real estate lifecycle, spanning from design to operational phases.

One of BIRET’s standout goals is to achieve net-zero greenhouse gas emissions by the year 2040 or even sooner. To attain this ambitious objective, the trust has initiated a comprehensive ESG strategy that encompasses 13 major initiatives. These initiatives are designed to address a wide array of sustainability challenges, solidifying BIRET’s commitment to environmental responsibility and social progress.

Brookfield India Real Estate Trust (BIRET) has achieved an impressive score of 98 out of 100 in the evaluation, outperforming the benchmark average of 83. This reflects BIRET’s excellence in its development projects. Additionally, its standing assets received a commendable score of 90 out of 100, surpassing the benchmark score of 75. This showcases BIRET’s commitment to maintaining high standards and sustainability across its real estate portfolio.

Furthermore, when compared to its peers, BIRET’s scores are noteworthy. Its development projects score higher than the peer average of 86, highlighting its leadership in this aspect. Similarly, its standing assets score on par with the peer average, further establishing BIRET’s position as a competitive player in the real estate investment trust sector, particularly in terms of sustainability and responsible management.

These scores underscore BIRET’s dedication to excellence and sustainability across its real estate ventures, setting it apart as a high-performing entity in the industry.

Mr. Alok Aggarwal, Chief Executive Officer of Brookprop Management Services Pvt. Ltd., the Manager of Brookfield India Real Estate Trust, expressed his enthusiasm and pride in achieving and maintaining the prestigious 5-star GRESB rating for two consecutive years. He emphasized that this accomplishment underscores their unwavering commitment to spearheading sustainable and inclusive environments.

These top ratings not only serve as validation of their leadership but also serve as motivation for their teams to continually enhance their sustainability performance. Mr. Aggarwal reinforced their dedication to excellence and their mission to achieve Net Zero emissions by 2040 or possibly even sooner. This ambitious goal drives their sustainable initiatives and underscores their commitment to shaping a more sustainable future for all stakeholders.

He further highlighted the significance of GRESB (formerly known as Global Real Estate Sustainability Benchmark) as an organization that provides valuable assessments and benchmarks for businesses. These tools enable companies to evaluate their performance relative to their peers and receive actionable guidance on how to improve their Environmental, Social, and Governance (ESG) performance. This commitment to ESG principles is pivotal in today’s world as businesses strive to contribute positively to the environment and society while also maintaining strong governance practices.

Brookfield India Real Estate Trust (BIRET) stands as a pioneering institutionally managed Real Estate Investment Trust (REIT) in India. Its impressive portfolio comprises seven expansive integrated office parks strategically situated in key gateway markets across the country, including Mumbai, Gurugram, Noida, and Kolkata. These prime locations ensure BIRET’s presence in some of India’s most significant and dynamic business centers.

In terms of scale, BIRET boasts a vast total leasable area of 25.3 million square feet, encompassing 20.7 million square feet of operating space, 0.7 million square feet under construction, and a substantial 3.9 million square feet designated for future development. This expansive portfolio is a testament to BIRET’s commitment to meeting the evolving needs of the commercial real estate market in India.

Additionally, BIRET holds a valuable right of first offer on an extra 4.0 million square feet of property, which is currently under the ownership of members within the Brookfield Group. This strategic advantage further solidifies BIRET’s position in the market, providing opportunities for expansion and growth in the future.

Crucially, BIRET enjoys the backing of an affiliate of Brookfield Corporation, formerly known as Brookfield Asset Management Inc. Brookfield’s asset management business ranks among the world’s premier alternative asset managers, boasting an impressive $850 billion in assets under management. Their diversified portfolio spans real estate, infrastructure, renewable power, private equity, and credit strategies, with a global presence extending across more than 30 countries.

The combination of BIRET’s high-quality real estate assets and the expertise of the sponsor group, honed through years of owning and operating assets across diverse sectors, positions BIRET as the preferred “landlord of choice” for discerning tenants. This designation reflects the trust and confidence that tenants place in BIRET, recognizing it as a reliable and influential player in India’s commercial real estate landscape.