Indian REITs Association appoints Alok Aggarwal to drive sector growth

The Indian REITs Association (IRA) has appointed Alok Aggarwal, MD and CEO of Brookfield India Real Estate Trust, as its new Chairman.

Established in 2023, the IRA is a non-profit trade organisation that supports the growth and development of India's Real Estate Investment Trust (REIT) sector.

Its founding members include Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust.

"Aggarwal's extensive experience in the real estate sector, especially REITs, and proven leadership will help IRA immensely. Under his guidance, we aim to work closely with Sebi to support industry growth, protect investor interests, and uphold high regulatory standards," the Association said in a statement.

 

Commenting on his new role, Aggarwal said the role of chairman has come at a time when 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," he said.

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 organisations such as Sun Apollo Capital Partners, Milestone Capital Advisors Ltd, DLF Universal Ltd and Mahindra Gesco Developers Ltd.