Mindspace REIT on October 18 announced that it became the first Indian commercial real estate entity to receive 100/100 in office development benchmark with the coveted title of ‘Global Sector Leader’ in the 2023 Global Real Estate Sustainability Benchmark (GRESB) for Office Development Benchmark.
The REIT also ranked first in Asia and is placed 1st out of 9 in India, in the ‘Listed Companies Category’ for commercial business development.
GRESB is an independent organisation providing validated ESG performance data and peer benchmarks for investors and managers to improve business intelligence, industry engagement and decision-making.
“This recognition helps show our stakeholders that we are transparent and dedicated to doing what is right, being innovative, and growing in a sustainable way," said Ramesh Nair, Chief Executive Officer, K Raheja Corp Investment Managers Private Limited, Manager to Mindspace Business Parks REIT.
Also read: Mindspace implosion of Hyderabad towers offers a rethink of redevelopment processes
The REIT has secured a prestigious 5-star rating for the second consecutive year, affirming its leadership by achieving a 100/100 in the development benchmark. Moreover, Mindspace REIT impressively scored 91/100 in the standing investment benchmark, ranking sixth among real estate peers across Asia with a 5-star rating. This distinguished performance has been achieved for the entire 32.1 million square feet, Grade A portfolio, the company said in a statement.
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