Stock Report

Embassy REIT constructs public skywalk at Embassy TechVillage



Posted On : 2021-12-17 18:00:12( TIMEZONE : IST )

Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) ("Embassy REIT"), India's first listed REIT and the largest office REIT in Asia by area, today announced the launch of a public skywalk at the upcoming Kadubeesanahalli metro station near Embassy TechVillage ("ETV"). The skywalk has been built in close association with Bangalore Metro Rail Corporation Limited ("BMRCL") and this investment is part of Embassy REIT's commitment towards developing infrastructure in Bangalore in partnership with government agencies. Such initiatives positively benefit residents, especially local communities in the vicinity of our business parks.

The newly constructed skywalk by Embassy REIT will ease pedestrian movement around ETV and help in reducing disruption of traffic flow as well as improve road and pedestrian safety for over 25,000 people daily. The underconstruction metro station is located at the entrance of ETV and also has a dedicated ramp access to our park.

ETV is a large-scale, award-winning and best-in-class integrated office park situated on the Outer Ring Road in Bengaluru. Home to over 45,000 employees of 40+ corporate occupiers, ETV is an infrastructure-like asset that serves as a complete business ecosystem for its occupiers and their employees. Located in Bengaluru's best-performing commercial office sub-market, ETV spans over 84 acres and was acquired by Embassy REIT in November 2020.

Michael Holland, Chief Executive Officer of Embassy REIT said, "We are proud to partner with BMRCL and local city administration on key infrastructure projects across Bangalore and see this as a positive collaboration where corporates like us can contribute towards improving city infrastructure and urban transportation to support local communities. Such initiatives also add long-term value to our existing properties and enhance our 'total business ecosystem' offering to the benefit of our world-class occupiers."

Shares of Embassy Office Parks REIT was last trading in BSE at Rs. 349.21 as compared to the previous close of Rs. 358.34. The total number of shares traded during the day was 33653 in over 556 trades.

The stock hit an intraday high of Rs. 359.29 and intraday low of 345.25. The net turnover during the day was Rs. 11786577.00.

Source : Equity Bulls

Keywords

EmbassyOfficeParksREIT PublicSkywalk KadubeesanahalliMetroStation EmbassyTechVillage