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Embassy REIT explores acquisition in Chennai, mulls fund-raising

ThehindubusinesslineThehindubusinessline · 10m
Embassy REIT explores acquisition in Chennai, mulls fund-raising

Embassy REIT, the largest real estate investment trust in Asia, is considering acquisition opportunities in Chennai and exploring inorganic growth options. The market conditions have improved, with higher rentals and occupancies in existing buildings and increased investor interest. The company is now looking to raise funds to support its expansion plans and has applied for demarcation of additional areas under amended SEZ rules. Despite the global economic scenario, India's office sector has shown resilience with balanced demand-supply dynamics and marginal rent growth. In Q3FY24, Embassy REIT achieved its full-year leasing guidance and witnessed recoveries in markets like Noida and Pune.

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