Brookfield and Bharti Enterprises close Rs. 5,000 crore deal for 4 marquee properties

The deal indicates their commitment to create “future-ready office environments,” according to Brookfield Asset Management, in India.

The four commercial properties owned by Bharti Enterprises in Delhi-NCR which are valued at an estimate of Rs 5,000 crore will be soon purchased by Canadian company Brookfield for a 51% interest in the deal.

The three properties, which total to a 3.3 million square feet, are Worldmark Aerocity (Delhi), Worldmark 65 and Airtel Centre (Gurgaon), and Pavillion Mall (Ludhiana).

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Bharti Enterprises stated in a statement, “As a part of this deal, Brookfield managed private real estate fund now owns 51 per cent stake in this joint venture, while Bharti Enterprises continues with 49 per cent stake.”

More than 5 million square feet of grade-A commercial real estate have been built by Bharti Realty. Which is a real estate division of Bharti Enterprises. The product mix includes a variety of commercial, retail, and lifestyle properties. In the Delhi NCR, it is creating more than 10 million square feet of retail and mixed-use space.

In addition to the 10 million square feet of future construction in Delhi Aerocity, the business will keep ownership and management of its remaining commercial assets.

“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,” stated Harjeet Kohli, joint managing director, Bharti Enterprises.

High-quality real estate is still in high demand both in India and overseas, according to Ankur Gupta, managing partner, head of real estate for the APAC region, and country head for India at Brookfield. In order to create office spaces in India that are prepared for the future, he added, “We look forward to leveraging our global expertise to build future-ready office environments in India.”

In India, Brookfield owns and manages commercial real estate properties with a value of more than 50 million square feet in the cities of Delhi NCR, Mumbai, Bengaluru, Chennai, Pune, Hyderabad, and Kolkata.

With almost $800 billion in assets under management across the renewables, infrastructure, real estate, private equity, credit, and other sectors, Brookfield Asset Management is a leading worldwide alternative asset manager.