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India Office REITs: Structural Demand Meets a Regulatory Re-Rating - August 2026

Founder, CEO, GSBR Research

Garvit Bhandari

Founder, CEO

Thematic (Sector/Industry)

India Office reits / Thematic (Sector/Industry)

<ul>
<li>Record 9M CY2026 leasing of 66.4 msf. GCCs (43%) and flex (24%) rising as third-party IT services shrinks to 13%, the AI-era demand rotation deepening.</li>
<li>Re-Rating driving institutional flows: Embassy’s index inclusion, Blackstone’s INR120bn Knowledge Realty OFS and India’s first bank-financed REIT NCD highlight growing investor participation and funding access.</li>
<li>Occupancy remains robust at 90-99%, with Knowledge Realty offering growth headroom, Embassy scale, Mindspace acquisition-led expansion and Brookfield interest rate sensitivity.</li>
</ul>


Record 9M CY2026 leasing of 66.4 msf. GCCs (43%) and flex (24%) rising as third-party IT services shrinks to 13%, the AI-era demand rotation deepening.
Re-Rating driving institutional flows: Embassy’s index inclusion, Blackstone’s INR120bn Knowledge Realty OFS and India’s first bank-financed REIT NCD highlight growing investor participation and funding access.
Occupancy remains robust at 90-99%, with Knowledge Realty offering growth headroom, Embassy scale, Mindspace acquisition-led expansion and Brookfield interest rate sensitivity.


Brookfield India Real Estate Trust (BIRET IN)

India Office REIT Monthly Tracker - October 2026