Mindspace REIT Receives 5 Star GRESB Rating in Development Benchmark

19 Oct 2022 , 05:45 PM

Business Wire India

Mindspace Business Parks REIT (BSE: 543217 | NSE: MINDSPACE) (‘Mindspace REIT’), owner and developer of quality Grade A office portfolio, has achieved 5-Star Rating, scoring 94 out of 100, and has been ranked 4^th in Asia Office for Development Benchmark, in the Global Real Estate Sustainability Benchmark (GRESB) Assessment. The entity has achieved 4-Star rating, scoring 81 out of 100 for Standing Investment Benchmark. The ratings by GRESB, which is a leading global ESG standard for real estate and infrastructure investments, provides validated ESG performance data and peer benchmarks for investors and managers to improve business intelligence, industry engagement and decision-making.
 
The integration of key aspects of Environment, Social and Governance (ESG) into Mindspace REIT’s business model, highlight its commitment to stakeholder engagement, inclusive growth, best-in-class environment practices and robust corporate framework. The REIT’s emphasis on strong ESG policies and exceptional risk management framework, have also been recognized by the GRESB assessment, which is reflected in the final scores.
 
Sebastien Roussotte, CEO of GRESB said, “Looking at this year’s benchmark, the industry’s embrace of ESG continues to be reflected in our strong participation numbers and increased data coverage, signalling that real assets investors and managers alike remain steadfast in their commitment to sustainability.”

Mr. Vinod Rohira, Chief Executive Officer, Mindspace Business Parks REIT, said, “Our constant efforts towards integrating ESG into the business, have helped us achieve 5 Star GRESB Rating in Development Benchmark and 4 Star for Standing Investment Benchmark. We have also emerged as one of the top developers in Asia. This rating recognizes not just our initiatives, but also considers stakeholders’ confidence and contribution towards achieving our ESG purpose and we thank them for continuing to stay invested in our growth story.”

About Mindspace REIT

Mindspace Business Parks REIT, sponsored by K Raheja Corp group, listed on the Indian bourses in August 2020. The REIT owns quality office portfolios located in four key office markets of India, namely Mumbai Region, Pune, Hyderabad, and Chennai. It has a total leasable area of 31.8 msf, with superior infrastructure and amenities, and is one of the largest Grade-A office portfolios in India. The portfolio consists of 5 integrated business parks and 5 quality independent office assets. It has a diversified and high-quality tenant base, with over 175 tenants as of June 30, 2022. Most of the buildings in the portfolio are either Gold or Platinum Green Building Certified (IGBC/LEED). The assets provide a community-based ecosystem and have been developed to meet the evolving standards of tenants, and the demands of ‘new age businesses’, making it amongst the preferred options for both multinational and domestic corporations. To know more visit www.mindspacereit.com.
 
About GRESB

GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by more than 170 institutional and financial investors to inform decision-making. For more information, visit GRESB.com.