Brookfield completes Rs 5,000-cr deal to pick 51% stake in Bharti's 4 commercial properties

Bharti Enterprises and Brookfield Asset Management entered into a Rs 5,000 crore joint venture agreement for a 3.3 million square feet portfolio of commercial properties in the Delhi-NCR region and Punjab.

With this agreement, a Brookfield controlled real estate fund will now have an ownership of 51 percent of the joint venture, while Bharti Enterprises will retain a 49 percent stake. 

Spread over 3.3-million square feet, the properties include Worldmark Aerocity in Delhi, Airtel Centre and Worldmark 65 in Gurugram, and Pavillion Mall in Punjab’s Ludhiana city.

“This transaction with Brookfield for our marquee properties in North India is a significant milestone for us to partner with a global infrastructure investor with deep and rich experience and insights into real estate,” said Harjeet Kohli, Joint Managing Director, Bharti Enterprises, said.

Bharti Realty, a realty arm of Bharti Enterprises has built over 5 million square feet of grade-A  diversified commercial real estate which include commercial, retail and lifestyle. In Delhi NCR, the firm is building more than 10 million square feet of retail and mixed-use real estate space.

After this deal, the company will retain ownership and operation of its remaining commercial properties, which include a 10 million square foot development in Delhi Aerocity.

Kohli further added that Bharti will continue to make more real estate assets for the growing demand for well-managed commercial real estate in India.

" High quality real estate in global gateway markets and in particular, the Indian office market, continue to witness high demand from occupiers.  We look forward to leveraging our global expertise to build future ready office environments in India,” said Ankur Gupta, Managing Partner, Head of Real Estate, APAC region and Country Head - India, Brookfield.
The Canada-based global investment firm Brookfield owns and operates more than 50 million square feet of commercial real estate in Delhi-NCR, Mumbai, Bengaluru, Chennai, Pune, Hyderabad and Kolkata markets.

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