Embassy REIT to join FTSE EPRA Nareit Global Emerging Index

Embassy Office Parks, India's first listed real estate investment trust (REIT) and the largest in Asia by area, said on Thursday it will be included in the FTSE EPRA Nareit Global Emerging Index from September 21.

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.

"Our inclusion into this prominent real estate benchmark for global investors will further enhance the REIT's profile, increase our trading liquidity, broaden our unit-holder register and deepen the pools of capital that can potentially invest in the REIT," said CEO of Embassy REIT Michael Holland.

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 and the US-based National Association of Real Estate Investment Trusts.

The FTSE EPRA Nareit Global Emerging Index tracks the performance of listed real estate compes and REITS in emerging markets and is widely acknowledged by institutional investors as a leading benchmark for the construction of emerging market listed real estate portfolios.

Embassy Office Parks owns and operates a 33.3 million square feet 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).

Its portfolio comprises 26.2 million square feet completed operating area, has an occupancy of 92.2 per cent as of June 30 and is home to many of the world's leading compes as occupiers.

The portfolio also comprises strategic amenities, including two operational business hotels, two under-construction hotels and a 100 megawatt solar park that supplies renewable energy to park occupiers.

( With inputs from ANI )