India's office REITs are on a roll—gaining over 15% this year
India's office REITs are having a moment—posting over 15% gains in the past year and outpacing the BSE Realty Index.
The big three (Mindspace, Brookfield India, and Embassy) leased more than 16 million sq ft in FY24-25, now managing over 105 million sq ft across major cities.
Knowledge Realty Trust to launch as India's 4th office REIT
A fresh face is joining the scene: Knowledge Realty Trust, backed by Blackstone and Sattva Developers, is set to launch as India's fourth office REIT by late 2025.
With a hefty portfolio of 48 million sq ft of Grade A offices, it reflects how global companies and big investors are betting big on Indian workspaces.
Global capability centers now make up 60% of leasing
Global capability centers (think tech hubs for major companies) now make up as much as 60% of leasing in these REITs—a huge jump from their share just a few years ago.
Occupancy rates are close to 90%, showing strong demand for premium offices.
Plus, India (alongside China) is one of Asia's fastest-growing REIT markets right now.