Brookfield to buy 51% stake from Bharti Enterprises as part of join venture deal

The enterprise value for the transaction is Rs 5,000 crore.

While Brookfield will manage the properties going forward, Bharti will continue with economic interest in the properties.

“We are pleased to have entered into a JV with Brookfield for our four marquee assets in North India. We remain confident on the commercial realty segment as India’s economy offers exciting growth opportunities ahead and

will continue to invest meaningfully to scale up our assets," said Harjeet Kohli, Group Director, Bharti Enterprises.

Ankur Gupta, Managing Partner, Head of Real Estate - India and Middle East and Country Head - India, Brookfield, said, "We are very pleased with this partnership with Bharti and look forward to furthering the positioning of these premium assets. Today tenants have a heightened appreciation of the positive impact workspaces can have on employee well-being and we see tremendous opportunities for well managed commercial real estate due to this transformation."

Worldmark Aerocity is one of the leading best-in-class mixed-use properties of 1.43 million sqft in Delhi NCR. Airtel Center is a 7,00,000 sqft corporate facility located in North Gurgaon while Worldmark 65 is another

more than 7,00,000 sqft newly built mixed-use asset in South Gurgaon.

In India, Brookfield owns and operates 47 million sqft of commercial real estate assets in six gateway markets including a large presence in Delhi NCR, Mumbai, Bengaluru, Chennai, Pune and Kolkata.

Bharti Realty will continue to own and operate its remaining commercial assets including approximately 10 million sqft of upcoming development in Delhi Aerocity.