Embassy Property plans to divest assets soon to pare debt
ECONOMY & POLICY

Embassy Property plans to divest assets soon to pare debt

Leading real estate company Embassy Property Development plans to sell off a number of assets, including its 5 million square foot office park in Chennai, N2 within Embassy Manyata Business Park, and an additional 1 million square feet of office space, in order to reduce its debt of 788,000 million dollars by more than a third in the upcoming two quarters.

The business also intends to lower its debt by selling completed goods supported by the required occupancy certificate (OC) from its residential projects.

Leading real estate company Embassy Property Development plans to sell off a number of assets, including its 5 million square foot office park in Chennai, N2 within Embassy Manyata Business Park, and an additional 1 million square feet of office space, in order to reduce its debt of 788,000 million dollars by more than a third in the upcoming two quarters. The business also intends to lower its debt by selling completed goods supported by the required occupancy certificate (OC) from its residential projects.

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