Embassy REIT the First in India to achieve a WELL Portfolio Score; Recognized for its Focus on ‘Health and Wellbeing’ across Pan-India Asset-base
Bengaluru, India, March 14, 2022
Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, and the International WELL Building Institute (‘IWBI’) announced today that Embassy REIT has been awarded a WELL Portfolio Score across all its business parks pan-India. This makes Embassy REIT the first organization in India to receive a WELL Portfolio Score for implementing health and wellbeing strategies through a portfolio-wide approach.
With a score of 49 in its first year of participation, Embassy REIT scored above the global average in 6 of 10 wellness-related parameters assessed. The portfolio was ranked in the top 5% globally by IWBI in terms of area and number of people impacted. Embassy REIT also achieved a 100% score in the ‘Movement’ parameter, highlighting the integration of physical activity and fitness into everyday life at its business parks.
Michael Holland, Chief Executive Officer of Embassy REIT, said,
“We are proud to have received this accolade from a renowned and internationally respected institution like IWBI, recognizing us as the front-runners in advancing the sustainability concept in the Indian commercial office sector. Our 5-year partnership with IWBI through the WELL Portfolio program reflects our desire to consistently benchmark ourselves globally and adopt best practices for all our assets; spanning multiple cities with varying climates and infrastructure, and buildings with different formats catering to diverse needs of our 200+ occupiers and their employees. Our first-year scores reflect our strength across our entire footprint; as well as underscore our commitment to provide the best workspaces and a ‘total-business-ecosystem’.”
Embassy REIT delivers workplace experiences focused on health and wellbeing for its occupiers, employees and customers while following high-quality environmentally sustainable practices. In 2021, Embassy REIT joined IWBI’s WELL Portfolio program to further augment its commitment to create healthier and safer office environments as health and wellness took center stage since the outbreak of the COVID-19 pandemic. With this milestone, Embassy REIT continues to progress on its sustainability journey to create and maintain green, wellness-oriented spaces and reduce its carbon footprint; as it moves towards a net-zero ambition.
Rachel Hodgdon, President and CEO of International WELL Building Institute , said,
“Congratulations to Embassy REIT for achieving a WELL score across its portfolio of business parks and for continuing to lead by example to prioritize health and wellbeing in workplaces. By leveraging WELL’s scalable nature, Embassy REIT and other leading global organizations are transforming portfolio-wide assets through health and wellbeing strategies that impact all employees and customers, thereby supporting their visions to evolve a culture of health.”
The WELL Portfolio program was launched to help property owners, developers and tenants streamline and scale the health and wellbeing strategies found in WELL across multiple assets in their real estate portfolios and throughout their organizations. The score is a metric that accrues over a period of time, as health-focused WELL features are achieved across all projects within the portfolio. It serves as a metric for recording incremental progress, advancing Environmental, social and governance (‘ESG’) goals, and measuring portfolio-wide health and wellbeing achievements against other peers participating in the WELL Portfolio program.
About Embassy REIT
Embassy REIT is India’s first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 42.6 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 33.6 msf completed operating area and is home to over 200 of the world’s leading companies. The portfolio also comprises strategic amenities, including three operational business hotels, three under‑construction hotels, and a 100 MW solar park supplying renewable energy to tenants. For more information on Embassy REIT’s ESG initiatives, please visit www.embassyofficeparks.com/esg/esg-publications.
About International WELL Building Institute
The International WELL Building Institute (IWBI) is a public benefit corporation and the world’s leading organization focused on deploying people-first places to advance a global culture of health. IWBI mobilizes its community through the administration of the WELL Building Standard (WELL) and the WELL Health-Safety Rating, management of the WELL AP credential, the pursuit of applicable research, the development of educational resources, and advocacy for policies that promote health and wellbeing everywhere. More information on WELL can be found here.
International WELL Building Institute pbc is a wholly owned subsidiary of Delos Living LLC. International WELL Building Institute, IWBI, the WELL Building Standard, WELL v2, WELL Certified, WELL AP, WELL Portfolio, WELL Portfolio Score, The WELL Conference, We Are WELL, the WELL Community Standard, WELL Health-Safety Rating, WELL Health-Safety Rated, WELL Health-Equity, WELL Performance Rated, WELL Enterprise Provider, WELL EP, WELL and others, and their related logos are trademarks or certification marks of International WELL Building Institute in the United States and other countries.
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.
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. In addition to statements which are forward looking by reason of context, the words ‘may’, ‘will’, ‘should’, ‘expects’, ‘plans’, ‘intends’, ‘anticipates’, ‘believes’, ‘estimates’, ‘predicts’, ‘potential’ or ‘continue’ and similar expressions identify forward-looking statements.
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