BENGALURU, India--(BUSINESS WIRE)--Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest in Asia by area, is pleased to announce that the REIT will be included in the FTSE EPRA Nareit Global Emerging Index with effect from September 21, 2020.
The changes were announced by FTSE Russell as part of the FTSE EPRA Nareit Global Real Estate Index Series September 2020 quarterly review on September 2, 2020.
Michael Holland, CEO of Embassy REIT, commented, “We are delighted to be included in the FTSE EPRA Nareit Global Emerging Index. Since listing in April 2019, Embassy REIT has set a high benchmark for the listed commercial real estate sector in India. Embassy REIT achieved total returns of approximately 24%, and has distributed over Rs. 23 billion (c.US$310 million) to unitholders. Our inclusion into this prominent real estate benchmark for global investors will further enhance the REIT’s profile, increase our trading liquidity, broaden our unitholder register, and deepen the pools of capital that can potentially invest in the REIT.”
- As of June 30, 2020. Total return calculation comprises unit price appreciation and quarterly distributions
About FTSE EPRA Nareit Global Real Estate Index Series
The FTSE EPRA Nareit Global Real Estate Index Series is an international real estate investment index system that is established by FTSE Russell in collaboration with the European Public Real Estate Association (“EPRA”), and the US-based National Association of Real Estate Investment Trusts (“Nareit”). The FTSE EPRA Nareit Global Emerging Index tracks the performance of listed real estate companies and REITS in emerging markets, and it is widely acknowledged by institutional investors as a leading benchmark for the construction of emerging market listed real estate portfolios.
About Embassy REIT
Embassy Office Parks is India’s first publicly listed Real Estate Investment Trust (REIT). Listed in April 2019, we own and operate a 33.3 million square feet (msf) portfolio of seven infrastructure-like office parks and four city‑centre office buildings in India’s best performing office markets of Bengaluru, Mumbai, Pune, and the National Capital Region (NCR). Embassy Office Parks’ portfolio comprises 26.2 msf completed operating area, has an occupancy of 92.2% as of June 30, 2020, and is home to many of the world’s leading companies as occupiers. The portfolio also comprises strategic amenities, including two operational business hotels, two under‑construction hotels, and a 100 MW solar park that supplies renewable energy to park occupiers
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 the Embassy Office Parks REIT (“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 assessment and analysis of the market and the market position of Embassy REIT.
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.