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At Brookfield, we see it as a tale of two cities: the highest quality properties continue to perform exceptionally well remaining resilient to the vagaries being experienced by many others."
Dear unitholders,
India remains to be a bright spot in the world economy and is expected to be a key contributor to global growth in the coming years. Given its strong macro trends and factors like the availability of skilled talent and regulatory backing to the IT and ITeS sectors being intact, global businesses continue to look at India as a talent hub to facilitate their operations.
As India morphs itself into a center of excellence for global talent around the world, businesses need spaces that are conducive to innovation and creativity. These companies are seeking the highest quality and most sustainable buildings with modern amenities in prime locations. Powering these aspirations and attuned to this requirement, our properties play a pivotal role in meeting the ever-evolving needs of tenants while making profound contributions to India's growth story
While macroeconomic forces may be beyond our control, our focus remains on what we can influence. Real estate fundamentals for high-quality assets in markets around the world remain healthy. At Brookfield, we see it as a tale of two cities: the highest quality properties continue to perform exceptionally well remaining resilient to the vagaries being experienced by many others.
In this setting, we are pleased to mark another successful year of business and share with you the third annual report of Brookfield India REIT.
Brookfield India REIT's long-term strategy is centered around portfolio expansion through new acquisitions that prioritize high-quality buildings in favorable locations. Our proposed strategic partnership with GIC, a renowned global institutional investor, to acquire two large commercial assets (totaling 6.5M sf feet), is a step in this direction. With a combined enterprise value of US$1.4B, this collaboration, a first-of-its-kind in India between a listed REIT and a global institutional investor, highlights the confidence placed in Brookfield India REIT’s capabilities and reinforces its position as a preferred partner for global investors.
The addition of these market-leading properties in Powai and Gurugram will significantly enhance the Brookfield India REIT portfolio and drive long-term value creation for its investors. These transformative acquisitions will lead to a 44% increase in operating area, 72% increase in consolidated GAV and substantial tenant and geographical diversification. The accretive acquisitions are at a 5.8% discount to consolidated GAV and expected to result in a 4.5% NDCF accretion.
We believe our properties are powerhouses that act as a catalyst to both retain and recruit talent while also bringing with it the joys of being part of a community."
Today, the workplace in India has evolved beyond the physical confines of the traditional 9-to-5 workday environment. Brookfield India REIT office parks lead the way with its high-quality amenetized workspaces that offer state-of-the-art infrastructure, wellness facilities and inviting outdoor spaces that harmonize work and life. With a steadfast commitment to sustainability, these assets minimize environmental footprints and make positive contributions to local communities. Brookfield India REIT 's commitment to quality, placemaking, technology intervention and innovation drives a thriving ecosystem where talent converges and ideas flourish. We believe our properties are powerhouses that act as a catalyst to both retain and recruit talent while also bringing with it the joys of being part of a community.
At Brookfield India REIT, sustainability isn't just a goal, it's a strategic business practice that ensures long-term success. The five-star rating along with the recognition as Sector Leader for Sustainable Office Development in Asia by GRESB in its inaugural year of participation is a testament to this commitment. Significant progress has been achieved in attaining ESG goals, including advancing Net Zero targets by 10 years to 2040, implementing initiatives to reduce the carbon footprint by investing in renewables, conserving resources and enhancing the well-being of employees and local communities.
With a steadfast commitment to innovation and a forward-thinking approach, we are well-positioned to seize opportunities, create value and achieve sustained success."
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Today, the end user appreciates and differentiates based on the quality and services that properties offer. This is highly encouraging for our business and complements our objectives. With an estimated 400M addition to the urban population in three decades, Indian mega cities present tremendous opportunities for India’s growing talent. Grade A offices will continue to be the backbone of this growth by supporting the interplay of the “live, work, play” phenomena.
We are also pleased to welcome Mr. Rajnish Kumar and Mr. Jan Sucharda to the board of directors. Their deep expertise across sectors and geographies will be of much value to Brookfield India REIT as we look towards the future.
With a steadfast commitment to innovation and a forward-thinking approach, we are well-positioned to seize opportunities, create value and achieve sustained success. Our properties are efficient, resilient, and future-fit, supporting the needs of our tenants and communities — today and tomorrow.
At Brookfield India Real Estate Trust, we work towards being a better version of ourselves every day. With the support from our stakeholders, we look confidently to the future and are poised to deliver continued value. Thank you for being integral to our journey. Your trust and support fuel our drive for excellence and together, we forge a brighter, prosperous future.
Sincerely,
