Embassy Property plans to divest assets soon to pare debt

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.