Embassy REIT constructs public skywalk at Embassy TechVillage
~ To benefit an estimated 25,000 pedestrians daily by connecting upcoming Kadubeesanahalli Metro Station to Embassy TechVillage ~
Bangalore, India, December 17, 2021
Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (“Embassy REIT”), India’s first listed REIT and the largest office REIT in Asia by area, today announced the launch of a public skywalk at the upcoming Kadubeesanahalli metro station near Embassy TechVillage (“ETV”). The skywalk has been built in close association with Bangalore Metro Rail Corporation Limited (“BMRCL”) and this investment is part of Embassy REIT’s commitment towards developing infrastructure in Bangalore in partnership with government agencies. Such initiatives positively benefit residents, especially local communities in the vicinity of our business parks.
The newly constructed skywalk by Embassy REIT will ease pedestrian movement around ETV and help in reducing disruption of traffic flow as well as improve road and pedestrian safety for over 25,000 people daily. The under-construction metro station is located at the entrance of ETV and also has a dedicated ramp access to our park.
ETV is a large-scale, award-winning and best-in-class integrated office park situated on the Outer Ring Road in Bengaluru. Home to over 45,000 employees of 40+ corporate occupiers, ETV is an infrastructure-like asset that serves as a complete business ecosystem for its occupiers and their employees. Located in Bengaluru’s best-performing commercial office sub-market, ETV spans over 84 acres and was acquired by Embassy REIT in November 2020.
Michael Holland, Chief Executive Officer of Embassy REIT, said,
“We are proud to partner with BMRCL and local city administration on key infrastructure projects across Bangalore and see this as a positive collaboration where corporates like us can contribute towards improving city infrastructure and urban transportation to support local communities. Such initiatives also add long-term value to our existing properties and enhance our 'total business ecosystem’ offering to the benefit of our world-class occupiers.”
About Embassy REIT
Embassy REIT is India’s first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 42.4 million square feet (‘msf’) portfolio of eight infrastructure-like office parks and four city‑centre office buildings in India’s best-performing office markets of Bangalore, Mumbai, Pune, and the National Capital Region (‘NCR’). Embassy REIT’s portfolio comprises 32.3 msf completed operating area and is home to over 190 of the world’s leading companies. The portfolio also comprises strategic amenities, including two operational business hotels, four under‑construction hotels, and a 100MW solar park supplying renewable energy to tenants.
This press release is prepared for general information purposes only. The information contained herein is based on management information and estimates. It is only current as of its date, has not been independently verified and may be subject to change without notice. Embassy Office Parks Management Services Private Limited (“the Manager”) in its capacity as the Manager of Embassy REIT, and Embassy REIT make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. Each recipient will be solely responsible for its own investigation, assessment and analysis of the market and the market position of Embassy REIT. Embassy REIT does not provide any guarantee or assurance with respect to any distribution or the trading price of its units.
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