Embassy Office Parks REIT Management Meet Update - Optimism Is In The Air: Nirmal Bang
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Nirmal Bang Report
We recently had an interaction with the management of Embassy Office Parks REIT. The management sounded optimistic with rising request for proposal and enquiries for leasing.
With waning impact of Covid-19 and assumption that there will be no further Covid-led disruptions, the combination of rising demand and relatively lower new supply will drive the rentals higher.
The key highlights of the management interaction were:
strong growth in enquiries indicates that demand is returning post Covid-19,
Bengaluru with sub-10% vacancy and rising demand from IT/IT enabled services companies is expected to witness maximum demand growth and jump in rentals,
currently, Embassy Office Parks REIT is not looking actively at geographical expansion,
focused on developing 5.7 million square feet under construction for delivery in the next three-years.
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