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NEW DELHI: Brookfield Asset Management has taken controlling 51% stake in four commercial properties spread over 3.3 million sq ft of Bharti Enterprises for Rs 5,000 crore, both the companies said in a media release.
Bharti Enterprises will continue to own 49% stake in these properties. The deal which was first announced by both the companies in April 2022, has now been concluded.
Harjeet Kohli, joint managing director, Bharti Enterprises said, “Bharti will continue to invest substantially to develop more real estate assets to serve the growing demand for well-managed commercial real estate in India.”
Under this joint venture, Brookfield Properties, real estate operating arm of Brookfield Asset Management, will manage the properties that include – Worldmark Aerocity in Delhi, Airtel Center and Worldmark 65 in Gurugram, and Pavillion Mall in Ludhiana.
Brookfield owns and operates over 50 million sq ft of commercial real estate assets in Delhi-NCR, Mumbai, Bengaluru, Chennai, Pune, Hyderabad and Kolkata.
Bharti Realty, real estate arm of Bharti Enterprises, will continue to own and operate its remaining commercial assets, which includes approximately 10 million sq ft of upcoming development in Delhi Aerocity.
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