Since Embassy REIT listed in April 2019, the firm has delivered a total return of 25 per cent. It comprises 33.3 million square feet of completed and operational commercial properties across the country. The Bengaluru-based office developer said that it will be investing Rs 1,500 crore over the next two years to add 2.6 million square feet of commercial space to its already existing portfolio of 26 million square feet of operational office space.
This additional 2.6 million square feet of space is in the early stages of constructionand will be a part of its existing integrated business parks and campuses, its deputy CEO, Vikaash Khdloya had earlier said.
REIT, or real estate investment trust, was introduced in India a few years ago in order to attract investment in the real estate sector by monetising rent-yielding assets. Mindspace Business Parks REIT, which is the second listed REIT in the country, had its IPO subscribed 13 times last month.