Achieves five-star GRESB rating for the second consecutive year
30.10.2023 - 08:36:51Brookfield India Real Estate Trust Ranked #1 for Management Score in Asia
Business Wire IndiaBrookfield India Real Estate Trust (BIRET), India’s first 100% institutionally managed real estate investment trust, has received the number one ranking for Management Score in Asia by GRESB, an investor driven global ESG benchmark. By retaining its five-star rating from GRESB for a second consecutive year, BIRET has set a benchmark for excellence as a leading sustainable office developer and operator in Asia.
Brookfield India Real Estate Trust’s holistic ESG program drives value across both its environmental and social initiatives, reflecting a pledge to positively impact its surrounding environments by creating safe, sustainable, and vibrant communities across the lifecycle of real estate from design to operations. To operationalize the net zero greenhouse gas emissions by 2040 or sooner, BIRET has rolled out a comprehensive ESG strategy across 13 significant initiatives.
The REIT scored 98 out of 100 with the benchmark average being 83 and a peer average of 86 for its developments and 90 out of 100 for its standing assets as compared to a benchmark score of 75 and a peer average of 86.
Mr. Alok Aggarwal, Chief Executive Officer of Brookprop Management Services Pvt. Ltd., Manager of Brookfield India Real Estate Trust, said, “Achieving and maintaining the prestigious 5-star GRESB rating for two years in a row underscores our commitment to pioneering sustainable and inclusive environments. These ratings not only affirm our leadership but encourage our teams to elevate our sustainability performance continuously. As we strive for excellence, we are resolute in our mission to achieve Net Zero by 2040 or even sooner, driving sustainable initiatives and shaping a more sustainable future for all stakeholders.”
*GRESB (Formerly known as Global Real Estate Sustainability Benchmark) is an organisation that provides assessments and benchmarks that can be used by businesses to compare their performance against their peers and find actionable advice on how they can improve their ESG performance).
About Brookfield India Real Estate Trust
Brookfield India Real Estate Trust is India's first institutionally managed REIT, comprising seven large integrated office parks located in key gateway markets of India – Mumbai, Gurugram, Noida, and Kolkata. The BIRET portfolio consists of 25.3M sf of total leasable area, comprising 20.7M sf of operating area, 0.7M sf of under construction area and 3.9M sf of future development potential. BIRET has a right of first offer on an additional 4.0M sf, currently owned by members of the Brookfield Group.
BIRET is sponsored by an affiliate of Brookfield Corporation (formerly known as Brookfield Asset Management Inc.), whose asset management business is one of the world’s leading alternative asset managers, with approximately US$850 billion of assets under management, across real estate, infrastructure, renewable power, private equity and credit strategies and has a global presence across more than 30 countries. The quality of assets owned by BIRET, together with the sponsor group’s expertise in owning and operating assets over several years, makes it the preferred “landlord of choice” for tenants.
Brookfield India Real Estate Trust’s holistic ESG program drives value across both its environmental and social initiatives, reflecting a pledge to positively impact its surrounding environments by creating safe, sustainable, and vibrant communities across the lifecycle of real estate from design to operations. To operationalize the net zero greenhouse gas emissions by 2040 or sooner, BIRET has rolled out a comprehensive ESG strategy across 13 significant initiatives.
The REIT scored 98 out of 100 with the benchmark average being 83 and a peer average of 86 for its developments and 90 out of 100 for its standing assets as compared to a benchmark score of 75 and a peer average of 86.
| Standing Investments | Developments |
| Environmental – 53/62 GRESB Average 41 Benchmark Average 50 |
Environmental – 49/51 GRESB Average 40 Benchmark Average 43 |
| Social – 18/18 GRESB Average 16 Benchmark Average 18 |
Social – 25/25 GRESB Average 22 Benchmark Average 23 |
| Governance – 20/20 GRESB Average 18 Benchmark Average 19 |
Governance – 24/24 GRESB Average 21 Benchmark Average 20 |
Mr. Alok Aggarwal, Chief Executive Officer of Brookprop Management Services Pvt. Ltd., Manager of Brookfield India Real Estate Trust, said, “Achieving and maintaining the prestigious 5-star GRESB rating for two years in a row underscores our commitment to pioneering sustainable and inclusive environments. These ratings not only affirm our leadership but encourage our teams to elevate our sustainability performance continuously. As we strive for excellence, we are resolute in our mission to achieve Net Zero by 2040 or even sooner, driving sustainable initiatives and shaping a more sustainable future for all stakeholders.”
*GRESB (Formerly known as Global Real Estate Sustainability Benchmark) is an organisation that provides assessments and benchmarks that can be used by businesses to compare their performance against their peers and find actionable advice on how they can improve their ESG performance).
About Brookfield India Real Estate Trust
Brookfield India Real Estate Trust is India's first institutionally managed REIT, comprising seven large integrated office parks located in key gateway markets of India – Mumbai, Gurugram, Noida, and Kolkata. The BIRET portfolio consists of 25.3M sf of total leasable area, comprising 20.7M sf of operating area, 0.7M sf of under construction area and 3.9M sf of future development potential. BIRET has a right of first offer on an additional 4.0M sf, currently owned by members of the Brookfield Group.
BIRET is sponsored by an affiliate of Brookfield Corporation (formerly known as Brookfield Asset Management Inc.), whose asset management business is one of the world’s leading alternative asset managers, with approximately US$850 billion of assets under management, across real estate, infrastructure, renewable power, private equity and credit strategies and has a global presence across more than 30 countries. The quality of assets owned by BIRET, together with the sponsor group’s expertise in owning and operating assets over several years, makes it the preferred “landlord of choice” for tenants.
