Leading real estate company Embassy Property Development plans to sell off several assets in the next two quarters in order to reduce its debt of 88,000 million by more than a third. These assets include a 5 million square foot office park in Chennai, a 1.6 million square foot development called N2, and an additional 1 million square feet of office space.
The business also intends to lower its debt by selling completed goods supported by the required occupancy certificate (OC) from its residential projects.
