Embassy REIT plans Rs 850 cr investment in office buildings

17 Feb 2022 CW Team

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

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

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..