Embassy REIT to invest Rs 850 cr to develop 1.9 mn sq ft office space in Bengaluru

Embassy REIT to invest Rs 850 cr to develop 1.9 mn sq ft office space in Bengaluru

Embassy Office Parks REIT will invest Rs 850 crore to develop nearly two million square feet office buildings in Bengaluru as the company remains bullish on demand for premium workspace, according to reports.

Embassy REIT Deputy CEO and chief operating officer Vikaash Khdloya said, ”We have started a new growth cycle by starting new development of 1.9 million square feet area in Embassy Tech Village in Bengaluru.”

Currently, the company is developing a total of 4.6 million square feet area, including the new 1.9 million square feet office buildings.

Khdloya added that the total construction cost is estimated at around Rs 850 crore for the new 1.9 million square feet area.

The construction of the ongoing 4.6 million square feet will be completed over the next three years.

”We are very positive on organic growth,” he added.

»Embassy REIT to invest Rs 850 cr to develop 1.9 mn sq ft office space in Bengaluru«

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