Embassy Office Parks REIT leased 8.1 msf of office space in FY24, surpassing guidance by 35%, with GCCs driving over 65% of leasing. Occupancy reached 85%, with Bengaluru at 91% and Mumbai at 99%. Proposed FY25 leasing guidance is 5.4 msf. Revenue and net operating income grew 8% YoY.
Embassy Office Parks REIT: In a regulatory filing, Embassy REIT informed that it has agreed to purchase Embassy Splendid TechZone (ESTZ), a Grade-A business park, from sponsor Embassy Group for an enterprise value of Rs 1,269 crore.
Listed in April 2019, Embassy REIT owns and operates a 45.4 million square feet portfolio of nine infrastructure-like office parks and four city centre office buildings in Bengaluru, Mumbai, Pune, and the National Capital Region (NCR)
Embassy Office Parks REIT has agreed to acquire Embassy Splendid TechZone, a Grade-A business park, from Embassy Sponsor, for an Enterprise Value of Rs 1,269 crore. This acquisition marks Embassy REITs debut in Chennai, a thriving office market in India. T
Embassy, which manages 45 million square feet (4.18 million square meters) of office parks, has clients including Google, Cisco and IBM who are bolstering their presence in the world s fifth biggest economy.