The Competition Commission of India (CCI) has granted approval to Knowledge Realty Trust (KRT), an upcoming real estate investment trust (REIT), for the acquisition of multiple entities associated with global private equity firm Blackstone and Bengaluru-based real estate developer Sattva Group.

KRT is sponsored jointly by Blackstone and Sattva Group, two influential players in India's commercial real estate sector. The acquisition involves both direct and indirect control over entities owned either independently by Blackstone or Sattva, or jointly by both. The manager, Knowledge Realty Office Management Services, formerly known as Trinity Office Management Services, is a Sebi-registered REIT. It operates in the domain of owning and managing income-generating real estate assets, including commercial office spaces.

The CCI's nod is critical, as it enables KRT to consolidate premium office assets under its portfolio. The approval also reinforces the attractiveness of India’s commercial real estate market for institutional investors, especially through the REIT structure, which allows retail and institutional participation in high-value, income-yielding realty projects. 

With this regulatory go-ahead, Knowledge Realty Trust is expected to move forward with final preparations for its IPO, positioning itself as a key player in India’s growing REIT landscape. The transaction is seen as a strategic step in expanding a diversified portfolio of rent-generating assets, aligning with investor demand for stable and long-term yield opportunities in real estate.