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Brookfield India Real Estate Trust (BIRET) has announced plans to acquire one of Bengaluru’s most prominent office campuses, marking a major expansion in its India portfolio. The real estate investment trust will purchase the 7.7 million square foot Ecoworld campus, located on Bengaluru’s Outer Ring Road, for Rs. 13,125 crore in a deal that will boost its portfolio size by more than 30%.
The proposed acquisition, detailed in a regulatory filing dated October 4, involves the purchase of 100% equity in Arliga Ecoworld Business Parks Pvt Ltd from its existing shareholder, BSREP III New York FDI I (DIFC) Ltd, and its nominee, BSREP III New York II (DIFC) Ltd. Both entities are part of the Brookfield group, making this a related party transaction. The company clarified that the acquisition will be executed on an arm’s length basis to ensure transparency and compliance.
Alok Aggarwal, CEO and Managing Director of Brookfield India Real Estate Trust, described the move as a natural progression in the company’s growth story. “Building on our strong inorganic growth track record, we announced the proposed acquisition of Ecoworld, a 48-acre, 7.7 million square foot office campus located on the Outer Ring Road in Bengaluru,” Aggarwal said. “This acquisition will mark our entry into one of India’s strongest office markets, expanding the size of our REIT by over 30% and positioning us as a truly pan-India platform.”
A Strategic Entry into India’s Tech Capital
For Brookfield India REIT, Bengaluru’s Ecoworld campus represents both scale and strategic value. The Outer Ring Road corridor is home to some of India’s most sought-after commercial spaces, housing major global technology and financial firms. By adding Ecoworld to its portfolio, Brookfield gains a foothold in a high-demand market that continues to outperform other Indian office hubs.
Industry observers note that Bengaluru’s office market has remained resilient despite global economic headwinds, driven by strong occupier demand from technology and consulting firms. Vacancy rates in prime micro-markets such as the Outer Ring Road remain among the lowest in the country.
The deal also reflects a growing trend among India’s listed REITs to expand through large-scale acquisitions, especially in established office corridors with proven tenant demand.
Expanding a National Portfolio
Brookfield India REIT currently manages 10 Grade A office assets across Delhi, Mumbai, Gurugram, Noida, and Kolkata. The addition of Ecoworld will diversify its presence geographically and solidify its position as one of India’s leading commercial real estate platforms.
Post-acquisition, BIRET’s total portfolio will rise to approximately 36.8 million square feet of leasable area. Its existing portfolio consists of 29.1 million square feet, including 24.6 million square feet of operating assets, 0.6 million under construction, and 3.9 million earmarked for future development.
The acquisition is also expected to strengthen BIRET’s revenue streams, given the premium nature of the Bengaluru property and its established tenant base. The Ecoworld campus is known for its modern infrastructure, sustainability features, and Grade A office spaces catering to large multinational occupiers.
Confidence in India’s Office Market
Aggarwal emphasized that Brookfield India REIT’s long-term outlook for India’s office sector remains strong. “Our embedded growth prospects remain robust with continued leasing momentum, making us well-positioned to deliver value to our unit holders,” he said.
While the transaction remains subject to customary approvals, it signals Brookfield’s continued confidence in the Indian commercial real estate market, which has shown signs of resilience and steady recovery post-pandemic.
As global corporations continue to expand their India operations, particularly in Bengaluru, large office campuses like Ecoworld are expected to remain key assets in institutional portfolios. For Brookfield India REIT, the deal cements its presence in a city synonymous with innovation and signals that the era of high-value office investments in India is far from over.
