Embassy Group to develop commercial space spread across an area of 2.27 acres in Bengaluru

“In the past year, we have witnessed how India’s corporate sector have had to pivot to a work-from-home culture. Despite the significant challenges caused by the Covid-19 pandemic, organizations have demonstrated a definite desire to return to formal office spaces. Therefore, we are confident that India’s commercial realty sector will witness a steady growth curve," said Aditya Virwani, Chief Operating Officer, Embassy Group.

The launch of Embassy Zenith is another key step in transforming the commercial real estate landscape of Bengaluru and growing our portfolio of best-in-class office assets, creating sophisticated and high-tech work hubs. With the legacy of Bengaluru’s renowned Le Méridien Hotel, we anticipate that this state-of-the-art commercial space will thrive at this landmark location in the future, he said.

The upcoming commercial development will be designed by Andy Fisher Workshop from Singapore and cater to a marquee client base.

Founded in 1993, Embassy Group is one India's largest real estate conglomerates with a broad portfolio of over 62 million sq  ft of prime commercial, residential and industrial space in India. Embassy has partnered with global investors including Blackstone and Warburg Pincus at the group and project levels. Embassy was a sponsor of India's first REIT, the largest office REIT in the Asia Pacific.

Leasing activity in the commercial real estate office market is expected to improve from January 2022 when select corporate houses may take a re-look at their space requirements before calling employees back to offices, and international travel may pick up on increased Covid-19 vaccinations, an analysis by ICICI Securities has said.