Rs 2,800 Crore Investment Planned By Embassy REIT
The country’s first publicly-listed REIT (Real Estate Investment Trust) Embassy REIT, has planned an investment of 2,800 crores in developing office spaces across the country. The firm said that the investment is based on the expected recovery in 2-3 quarters once employers are back to the office. Embassy REIT says it continues to build and expects that the projects would be completed from 2023 onwards.Â
The firm which has 5.7 million square feet (msf) of office properties under development aims to expand its portfolio through the acquisition of commercial assets across major cities. The investment also has the logic as India has the most affordable office markets globally, with an average rent of USD 1 per sq ft per month.