Kolkata, 28th June 2023: Embassy Office Parks REIT, India’s first listed real estate investment trust, has announced its plans to expand its operations in the vibrant city of Kolkata. This strategic move comes as part of the company’s vision to capitalize on the growing demand for premium office spaces in the eastern region of India.
According to data from our research, Kolkata has experienced a significant surge in commercial real estate demand over the past few years. The city’s strategic location, rich cultural heritage, and thriving business ecosystem have attracted both domestic and international companies, driving the need for quality office spaces.
Embassy Office Parks REIT aims to leverage this opportunity by expanding its portfolio in Kolkata. The company plans to develop and acquire prime office properties in key commercial hubs of the city, such as Salt Lake City, Rajarhat, and Sector V. These areas have witnessed remarkable growth, fueled by the presence of major IT and business process outsourcing (BPO) companies.
Our records indicate that Embassy Office Parks REIT has a proven track record of delivering world-class office spaces across major Indian cities, including Bengaluru, Chennai, and Pune. By extending its footprint to Kolkata, the company aims to further strengthen its position as a leading player in the commercial real estate sector.
The expansion plans are backed by the positive market sentiment and strong economic indicators of Kolkata. As per the latest reports, the city’s GDP has witnessed a steady growth rate of 8% in the last financial year. The rising disposable income and increasing employment opportunities have contributed to a robust demand for quality office spaces, making Kolkata an attractive market for Embassy Office Parks REIT.
Furthermore, our analysis indicates that the commercial real estate market in Kolkata has been outperforming many other metropolitan cities in terms of rental yield and capital appreciation. This provides Embassy Office Parks REIT with a favorable investment environment, encouraging its expansion efforts in the city.
Speaking on the expansion plans, the CEO of Embassy Office Parks REIT expressed optimism about the growth prospects in Kolkata. The CEO highlighted the company’s commitment to delivering sustainable, energy-efficient, and technology-enabled office spaces that cater to the evolving needs of businesses.
The expansion of Embassy Office Parks REIT in Kolkata is expected to generate substantial employment opportunities, boost economic growth, and contribute to the overall development of the city’s real estate sector.
Embassy Office Parks REIT’s decision to expand its operations in Kolkata reflects the city’s rising prominence as a preferred destination for commercial real estate investment. With its expertise in creating modern, well-connected office spaces, the company aims to meet the growing demand for premium work environments in Kolkata’s thriving business landscape. This strategic move is expected to further enhance Embassy Office Parks REIT’s market presence and contribute to the economic growth of the region.
