Embassy Property plans to divest assets soon to pare debt
Leading real estate company Embassy Property Development plans to sell off a number of assets, including its 5 million square foot office park in Chennai, N2 within Embassy Manyata Business Park, and an additional 1 million square feet of office space, in order to reduce its debt of 788,000 million dollars by more than a third in the upcoming two quarters.
The business also intends to lower its debt by selling completed goods supported by the required occupancy certificate (OC) from its residential projects.
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