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• Shirish Godbole, CEO of Knowledge Realty Trust, has been appointed chairperson of the Indian REITs Association (IRA) with immediate effect, succeeding Alok Aggarwal following his retirement from Brookfield India REIT.
• Godbole brings over 25 years of experience in global real estate investment and finance, having held leadership positions at AEW Capital Management, Morgan Stanley and Goldman Sachs.
• The Indian REITs Association will continue to focus on strengthening investor awareness, promoting governance standards, encouraging industry collaboration and supporting the long-term growth of India's listed REIT market.
• The leadership transition comes as India's REIT sector continues to expand, with rising institutional participation, evolving regulations and growing investor interest expected to drive the next phase of market development.
The Indian REITs Association (IRA) has appointed Shirish Godbole, Chief Executive Officer of Knowledge Realty Trust, as its new chairperson with immediate effect. The leadership transition comes at a time when India's listed real estate investment trust (REIT) market is witnessing sustained growth and attracting greater participation from both domestic and international investors. Godbole succeeds Alok Aggarwal, who stepped down following his retirement as Managing Director and Chief Executive Officer of Brookfield India Real Estate Trust.
The association acknowledged Aggarwal's contribution during the formative years of India's REIT industry, noting that under his leadership the organisation played a key role in promoting investor awareness, encouraging industry collaboration and supporting the evolution of the country's listed REIT ecosystem. His tenure also helped establish the association as an important platform for engagement between market participants, regulators and other stakeholders.
Godbole assumes the role with more than 25 years of experience in global real estate investing and finance. Before joining Knowledge Realty Trust, he held senior leadership positions at AEW Capital Management in Boston, Morgan Stanley in New York and India, and Goldman Sachs (India). His experience spans real estate investments, capital markets, asset management and strategic business development, positioning him to lead the association during a period of increasing institutional interest in India's commercial real estate sector.
Commenting on his appointment, Godbole said he was honoured to lead the association at a defining stage for the REIT sector. He noted that REITs have established themselves as a transparent and credible investment avenue within a relatively short period and have the potential to become a mainstream investment product as India's commercial real estate market continues to mature. He also emphasised the importance of working closely with regulators, industry members and investors to strengthen governance standards, enhance transparency and expand investor participation.
Founded in 2023 under the guidance of the Securities and Exchange Board of India (SEBI) and the Ministry of Finance, the Indian REITs Association is a non-profit industry body established to promote the growth and development of India's REIT sector. Its members include Brookfield India REIT, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, Knowledge Realty Trust and Bagmane Prime Office REIT. The association works with regulators and market participants to encourage best practices, strengthen investor confidence and support the long-term development of the listed REIT market.
Industry experts believe the leadership change comes at a crucial time as India's REIT market continues to expand in size and sophistication. With increasing institutional participation, evolving regulatory frameworks and growing investor awareness, the association is expected to play a greater role in shaping policy discussions, promoting market transparency and encouraging the wider adoption of REITs as an investment asset class. Under Godbole's leadership, the industry body is expected to focus on strengthening stakeholder engagement, supporting regulatory initiatives and facilitating the sustainable growth of India's listed REIT ecosystem.
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