MUMBAI: Real estate investment trusts (Reits) – though in their nascent stage in India -- have been getting increasing traction in the urban development ecosystem. The Indian Reits Association (IRA) - set up in 2023 under the guidance of the Securities Exchange Board of India (Sebi) - has increasingly been making its presence felt on the financial and real estate landscape.
Today, the IRA announced the appointment of Brookfield India Real Estate Trust managing director & CEO Alok Aggarwal as its chairman. The IRA is a non-profit trade organization that supports the growth and development of the India Reits sector. Its founding members include Brookfield India Real Estate Trust, Embassy Office Parks Reit, Mindspace Business Parks Reit, and Nexus Select Trust.
“Alok Aggarwal’s extensive experience in the real estate sector, especially Reits, and proven leadership will help IRA immensely,” said the IRA in a press release. “Under his guidance, we aim to work closely with Sebi to support industry growth, protect investor interests, and uphold high regulatory standards. The association remains committed to fostering best practices in India’s Reit sector.”
Added Alok Aggarwal: “Reits have established a strong foothold in the Indian capital market and are poised for significant growth. I look forward to collaborating with industry leaders and stakeholders to drive innovation, improve transparency, and create value for investors. Together, we can contribute to the sustainable growth and long-term resilience of Reits in India.”
Aggarwal is an alumnus of IIT Delhi, where he earned his engineering degree, and ISB Hyderabad, where he completed his MBA. His academic background has contributed to a successful career spanning over three decades in the real estate industry.
In his professional journey, Aggarwal has held leadership roles at prominent organizations such as Sun Apollo Capital Partners, Milestone Capital Advisors, DLF Universal and Mahindra Gesco Developers.
At Brookfield India Real Estate Trust, he is a leading member of the team that established India's first 100 per cent institutionally-managed office Reit. He has been instrumental in driving operational excellence, fostering innovation, enhancing tenant relationships, and integrating ESG practices across the portfolio.
