Expansion of Public Float to be Very Positive for Embassy REIT
Expansion of Public Float to be Very Positive for Embassy REIT
- Bangalore, India, December 20th, 2023
- Jitu Virwani, Chairman & Managing Director, Embassy Group –
As a sponsor of Embassy Office Parks REIT (“Embassy REIT”), we welcome the expansion of the REIT’s public float register to include more high-quality investors.
We believe that this transaction underscores the success of REITs in India and demonstrates how the world’s leading investors view the criticality of well-run, high-quality REITs such as Embassy REIT in their portfolios
Embassy REIT is one of Asia’s largest office REITs with a world-class portfolio of over 45 msf and catering to 240 leading corporate occupiers. The REIT’s marquee investor base today includes domestic mutual funds, insurers, foreign institutional investors including sovereign wealth funds, among others. The business is in great shape, as demonstrated by its recent strong performance, in which the REIT delivered one of its highest leasing achievements to date in the first half of this fiscal.
The widespread distribution of unitholders adds depth and liquidity to the REIT’s units, provides for more efficient price discovery, and bolsters the governance.
Embassy REIT is an independent listed entity run by a professional management team. The REIT is strategic to Embassy Group, and we remain committed to its growth and development.
About Embassy Group
Embassy Group is a leading real estate developer. The over 70 million square feet of
commercial,
residential,
industrial and warehousing, hospitality, services, retail, and education spaces we have delivered emphasise high standards of quality, world-class services, environmental management, and safety. Founded in 1993, our operations now span the Indian and international markets of Bengaluru, Chennai, Hyderabad, Thiruvananthapuram, Mumbai, Pune, the NCR, Serbia, and Malaysia. Our 45 million sq. ft. of ready and ongoing residential developments encompass branded residences, uber-luxury villas, exclusive villaments, sky condominiums, integrated developments, senior living, and contemporary homes. Embassy was a sponsor of India’s first publicly listed and Asia Pacific’s largest Real Estate Investment Trust (REIT).
We strive to build a resilient ecosystem and proactively foster the social, economic, and environmental developments of the communities we work in. Further information is available at www.embassyindia.com.
About Embassy REIT
Embassy REIT is India’s first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 45.3 msf portfolio of nine infrastructure-like office parks and four city centre office buildings in India’s best-performing office markets of Bengaluru, Mumbai, Pune, and the National Capital Region (‘NCR’). Embassy REIT’s portfolio comprises 35.3 msf completed operating area and is home to 240 of the world’s leading companies. The portfolio also comprises strategic amenities, including four operational business hotels, two under construction hotels, and a 100 MW solar park supplying renewable energy to tenants. Embassy REIT’s industry leading ESG program has received multiple accolades from renowned global institutions and was awarded a 5-star rating both from the British Safety Council and GRESB. Embassy REIT was also recognized as the world’s largest ‘USGBC LEED Platinum-Certified’ office portfolio (v4.1 O+M) by Green Business Certification Inc. For more information, please visit www.embassyofficeparks.com