Embassy REIT Expands Pune Footprint, Launches New Buildings totalling 0.9 msf given Anticipated Demand Rebound
- New 0.9 msf state-of-the-art office block launched at Embassy TechZone, a 68-acre integrated office campus in Hinjewadi with 2.2 msf operational
- ‘Back to Office’ ramp-up, robust hiring and tech investments, and infrastructure initiatives such as metro likely to attract technology and global captive occupiers
- New development caters to anticipated demand rebound, has already won iNFHRA Workplace Excellence award in Innovation Technology
Pune, India, May 6, 2022
Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first publicly listed real estate investment trust and Asia’s largest by area, announced today that it has successfully launched two office towers, Hudson and Ganges, which upon delivery add 0.9 million square feet (‘msf’) in the iconic Embassy TechZone spread across 68 acres in Pune’s Hinjewadi micro-market. Embassy TechZone currently has six operational towers of 2.2 msf which caters to the needs of 18 global and Indian occupiers and over 14,000 employees.
Vikaash Khdloya, Deputy CEO & Chief Operating Officer of Embassy REIT, said,
“Back to office trends continue to be encouraging across our 33.8 msf operating portfolio. Pune is a key market to access talent for our global occupiers, and we are pleased to launch additional 0.9 msf which is currently in advanced stages of completion. We continue to be focused on growing our portfolio and operating income given the encouraging demand trajectory and are well placed to finance our growth given our balance sheet strength.”
The new Hudson and Ganges office towers at Embassy TechZone, Pune are currently in advanced stages of development completion, and are winners of iNFHRA Workplace Excellence award in Innovation Technology. Apart from state-of-the-art design, efficient floor plates, modern look and feel, these buildings are LEED Gold pre-certified and incorporate sustainability and employee wellness design aspects. The buildings are equipped with a zero-discharge sewage treatment plant and have planned for electric vehicle charging points and rooftop solar panels to push towards our ‘75/25 Renewable’ energy plan. Current and announced infrastructure initiatives, including improved access through road and Metro, further enhances their appeal to employees and global occupiers.
About Embassy TechZone
Embassy TechZone is a Grade A open campus office park in Pune, located close to the Mumbai-Pune Expressway. The park is spread across an area of 68 acres with a leasable area of 2.2 msf with six operational towers, 0.9 msf in advanced stages of completion and a further 2.4 msf of proposed development area. Embassy TechZone fully encapsulates Embassy REIT’s ‘Total Business Ecosystem’ philosophy. In addition to a sprawling food court and a well-equipped multi-sport arena, the Embassy TechZone campus has a well-appointed crèche and vast urban green spaces. The facility is well connected with a shuttle service, in-campus cycles supporting pedal-for-the-planet and is less than a kilometer from the upcoming metro station. The location offers top-notch social and lifestyle infrastructure and provides smooth connectivity to both Mumbai & Pune CBD. For more information, please visit www.embassyofficeparks.com/ourportfolio/pune/embassy-techzone.
About Embassy REIT
Embassy REIT is India’s first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 42.8 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 33.8 msf completed operating area and is home to over 200 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. For more information, please visit www.embassyofficeparks.com.