Embassy REIT to invest Rs 2,800 cr in developing office spaces

19 May 2021 CW Team

Embassy Real Estate Investment Trust (Embassy REIT) is planning to invest more than Rs 2,800 crore for the development of its office spaces across India.

The higher officials of the company informed the media that Embassy REIT needs to take possession of more land for the business in various cities to expand their reputation.

Since Embassy REIT currently owns office properties in about 5.7 million sq ft of land that is still under development, the request for office space has ceased for a while but will see light soon. The break is due to the sudden surge of the second wave of Covid-19.

The resumption is expected soon after the employees are back to the office. The construction will be continued and the projects are expected to be completed from 2023 onwards, said Vikaash Khdloya, the chief working officer.

The agency has a pan-India acquisition capacity of 31.2 million sq ft with a Right of First Offer (ROFO) opportunity from the Embassy Sponsor and an alternative of another 4.2 million sq ft from various builders.

In spite of being hit by the pandemic, Embassy REIT signed 1.2 million sq ft of lease contracts in FY20.

Mike Holland, Chief Executive of Embassy REIT told the media that the company has advanced despite being hit by the pandemic, with a 12% annual growth in net operating income (NOI) in FY20 and 89% occupancy. He added that the future of the company is in safe hands in India.

In the previous fiscal year, the agency raised Rs 5,200 crore debt at a coupon charge of 6.9% and renewed finance of Rs 3,280 crore, financial savings of 336 foundation factors. 100 foundation factors are one share level.

Image Source

Also read: Macrotech Developers plan to invest Rs 2,800 cr on realty in FY22

Also read: Over 7,400 office leases up for renewal in 2021

Infrastructure Transport

10 Jul 2026

Uttar Pradesh unveils infrastructure-led growth roadmap at RAHSTA

Mumbai, 9 July 2026: Uttar Pradesh’s ambitious infrastructure-led growth strategy took centre stage on Day 2 of the 16th RAHSTA Expo, where senior government officials outlined how expressways, industrial corridors and technology-driven governance are transforming the state into one of India's most attractive investment destinations.Delivering the keynote address, Srihari Pratap Shahi, IAS, Additional Chief Executive Officer, Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), highlighted the state's long-term vision of integrating world-class expressways with industrial dev..

NCW closes PRIME Offices Fund at Rs 40 billion

Nuvama and Cushman & Wakefield Management (NCW) has announced the final close of its flagship PRIME Offices Fund at approximately Rs 40 billion, exceeding its original target of Rs 30 billion following strong investor demand.The fund was launched to provide Indian investors with access to institutional-grade commercial office assets across key office markets in the country. According to NCW, the increase in the fund size was supported by strong investor participation and the availability of investment opportunities in India's office sector.The fund has already committed around 45 per cent ..

Mayfair Housing adopts Autodesk Forma for digital project planning

Mayfair Housing has entered into a three-year strategic partnership with Autodesk to deploy Autodesk Forma, an AI-enabled cloud platform, as part of its digital transformation programme aimed at improving project planning and execution across its development and redevelopment portfolio.The platform will be integrated into the company's Building Information Modelling (BIM) workflow to support architects, planners and project teams during the early stages of design and development. Autodesk Forma combines real-world data, environmental simulations and collaborative workflows to facilitate data-d..