Embassy REIT plans Rs 850 cr investment in office buildings
Real Estate

Embassy REIT plans Rs 850 cr investment in office buildings

Embassy Office Parks Real Estate Investment Trust (REIT) plans to invest Rs 850 crore for developing nearly two million sq ft office buildings in Bengaluru.

The company is India's first REIT sponsored by Blackstone and Embassy Group. It is also evaluating the acquisition of a five million sq ft IT park in Chennai.

CEO and Chief Operating Officer of Embassy REIT, Vikaash Khdloya, said that the company had started a new growth cycle through the development of a 1.9 sq ft area in Embassy Tech Village in Bengaluru as the demand began to rebound after the pandemic.

Currently, the company is developing a 4.6 million sq ft area, including 1.9 million sq ft office buildings.

Khdloya said that the overall cost of construction is approximately Rs 850 crore for the new project of 1.9 million sq ft area.The pending investments in the 2.7 million sq ft are Rs 750 crore.The 4.6 million sq ft construction will be completed in the next three years.

The company has received the Right of First Offer (ROFO) from Embassy Group for the acquisition of five million sq ft at Embassy Splendid TechZone in Chennai. Previously, it acquired an IT Park, Embassy TechVillage, worth Rs 9,782.4 crore.

He said that the demand for Grade-A office space is increasing, and the company has leased around Rs 4,30,000 sq ft area during December 2021 quarter, while 3,50,000 sq ft is new leasing and rest renewals.The demand for quality office space, including the Information technology (IT) or IT-enabled service (ITeS) sectors, remains strong.

The company reported a 30% increase in its net operating income (NOI) to Rs 621.3 crore and will distribute Rs 493 crore to the unitholders during the December-end quarter, compared to Rs 478 crore and Rs 431.3 crore, respectively, during the same period last year.

The company expects the NOI at around Rs 2,450 crore and distribution to the unitholders at around Rs 2,050 crore.

Image Source

Also read: Blackstone Group sells over 5.7 cr units in Embassy Office Parks REIT
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Embassy Office Parks Real Estate Investment Trust (REIT) plans to invest Rs 850 crore for developing nearly two million sq ft office buildings in Bengaluru. The company is India's first REIT sponsored by Blackstone and Embassy Group. It is also evaluating the acquisition of a five million sq ft IT park in Chennai. CEO and Chief Operating Officer of Embassy REIT, Vikaash Khdloya, said that the company had started a new growth cycle through the development of a 1.9 sq ft area in Embassy Tech Village in Bengaluru as the demand began to rebound after the pandemic. Currently, the company is developing a 4.6 million sq ft area, including 1.9 million sq ft office buildings. Khdloya said that the overall cost of construction is approximately Rs 850 crore for the new project of 1.9 million sq ft area.The pending investments in the 2.7 million sq ft are Rs 750 crore.The 4.6 million sq ft construction will be completed in the next three years. The company has received the Right of First Offer (ROFO) from Embassy Group for the acquisition of five million sq ft at Embassy Splendid TechZone in Chennai. Previously, it acquired an IT Park, Embassy TechVillage, worth Rs 9,782.4 crore. He said that the demand for Grade-A office space is increasing, and the company has leased around Rs 4,30,000 sq ft area during December 2021 quarter, while 3,50,000 sq ft is new leasing and rest renewals.The demand for quality office space, including the Information technology (IT) or IT-enabled service (ITeS) sectors, remains strong. The company reported a 30% increase in its net operating income (NOI) to Rs 621.3 crore and will distribute Rs 493 crore to the unitholders during the December-end quarter, compared to Rs 478 crore and Rs 431.3 crore, respectively, during the same period last year. The company expects the NOI at around Rs 2,450 crore and distribution to the unitholders at around Rs 2,050 crore. Image Source Also read: Blackstone Group sells over 5.7 cr units in Embassy Office Parks REIT

Next Story
Real Estate

MHADA Announces Major Relief for Master List Beneficiaries

The Mumbai Building Repair and Redevelopment Board of MHADA has made an important decision to grant conditional possession of tenement to the close heirs of eligible original tenants/residents listed in the master list lottery. This decision was announced by MHADA’s Vice President and CEO, Sanjeev Jaiswal, IAS, during a recent meeting held at the MHADA headquarters. On December 28, 2023, the board conducted a computerized lottery for 265 eligible tenants/residents from old cess buildings listed in the master list to allocate tenements. However, after allotment letters were issued for flat ..

Next Story
Infrastructure Urban

Novelis Aims to Raise $750 Mn through 5-Year Bonds

Novelis Inc, a subsidiary of Hindalco Industries based in the United States, announced plans on Thursday to raise $750 million via bond issuance. The company aims to utilise the proceeds from this offering to repay $738 million of existing debt, with any remaining funds allocated to strengthening its balance sheet. The bond offering consists of $750 million in senior notes at an interest rate of 6.875 per cent, maturing in January 2030. This marks a $250 million increase from Novelis’ earlier announcement. As a leading provider of sustainable aluminium solutions, Novelis had reported a decli..

Next Story
Infrastructure Urban

Tata Motors Sees 1% Growth in Global Wholesales for Q3 FY25

Tata Motors Group reported a 1 per cent increase in global wholesales for the third quarter of the 2025 financial year (Q3 FY25), amounting to 341,791 units, including figures from Jaguar Land Rover (JLR). Tata Motors’ commercial vehicle wholesales, including the Tata Daewoo range, reached 97,535 units, reflecting a 1 per cent decline compared to Q3 FY24. However, its passenger vehicles, which include electric models, saw a 1 per cent rise to 139,829 units in Q3 FY25. Jaguar Land Rover (JLR), a key subsidiary of Tata Motors, saw a 3 per cent increase in global wholesales, reaching 104,427 un..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000