India's office market speeds up institutionalisation with more Reits ahead

India's office real estate is shifting from fragmented ownership to institutionalisation with rising Reit penetration, global investors, and growing demand from multinational occupiers

India’s office real estate market is rapidly evolving into an institutionally owned asset class, driven by the rise of real estate investment trusts (Reits), growing global private equity and pension fund participation, and a shift away from its fragmented, developer-led past.

 

Upcoming listings over the next two years will add to the existing four listed office Reits — Embassy Office Parks, Mindspace Business Parks, Brookfield India, and Knowledge Realty Trust (KRT). Together, they are expected to deepen the institutional footprint amid surging demand from multinational occupiers, according to market watchers.

 

Developers such as Bengaluru-based Bagmane and Pune-based Panchshil Realty are