Real Estate

Real Estate Transactions

Embassy REIT to invest Rs.850-Cr to develop 1.9 m sq ft office space in Bengaluru

Economic Times  

Embassy Office Parks REIT will invest INR 850 crore to develop nearly 2 million sq ft office buildings in Bengaluru. Embassy Office Parks REIT, sponsored by Blackstone and realty firm Embassy group, is also evaluating the acquisition of a 5 million sq ft IT park in Chennai. Currently, Embassy REIT is developing a total of 4.6 million sq ft area, including the new 1.9 million sq ft office buildings. The total construction cost is estimated at around INR 850 crore for the new 1.9 million sq ft area.