Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest in Asia by area, is pleased to announce that the REIT will be included in the S&P Global Property Index and S&P Global REIT Index effective November 2, 2020.
The inclusion of Embassy REIT follows an S&P Dow Jones Indices’ amendment to the S&P Property Indices composition and constituent methodology as part of the September 2020 rebalance review.
Michael Holland, CEO of Embassy REIT commented, “Embassy REIT is delighted to be a part of the S&P Dow Jones Indices and to be the first Indian REIT to be included in the S&P Global REIT Index, and we thank the Index Committee for facilitating this inclusion. As a result of the REIT’s acceptance in these important global investing benchmarks, we expect more active and passive pools of global capital to track Embassy REIT, thereby further validating the REIT structure as the standard bearer for listed commercial real estate in India.”
S&P Dow Jones Indices is a leading global index provider that owns benchmark indices like the S&P 500® and the Dow Jones Industrial Average®. As part of this index family, the S&P Property Indices are float-adjusted capitalization-weighted indices that track property companies globally. In particular, the S&P Global REIT Index serves as a comprehensive benchmark of publicly traded equity REITs listed in both developed and emerging markets.
About Embassy REIT
Embassy Office Parks is India’s first publicly listed Real Estate Investment Trust (REIT). Listed in April 2019, Embassy REIT owns and operates a 33.3 million square feet (msf) portfolio of seven 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 26.2 msf completed operating area, has an occupancy of 92.2% as of June 30, 2020, and is home to many of the world’s leading companies as occupiers. The portfolio also comprises strategic amenities, including two operational business hotels, two under‑construction hotels, and a 100MW solar park supplying renewable energy to park occupiers. Embassy REIT is also a member of the FTSE Russell Global Equity Index series and FTSE EPRA Nareit Global Emerging Index.
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 the Embassy Office Parks REIT (“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 assessment and analysis of the market and the market position of Embassy REIT.
This press release contains forward-looking statements based on the currently held beliefs, opinions and assumptions of the Manager. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of Embassy REIT or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, including the impact of COVID-19 on us, our occupiers and the Indian and global economies, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Manager disclaims any obligation to update these forward-looking statements to reflect future events or developments or the impact of events which cannot currently be ascertained, such as COVID-19.
For more information please contact:
Head - Capital Markets & Investor Relations
Phone: +91 80 3322 2222