MUMBAI : With the covid-19 disrupting economic activity and cash flows for businesses, American private equity firm Blackstone-backed Embassy Office Parks REIT, India's first listed real estate investment trust, on Tuesday reported that it was able to collect only 92% rent due for the month of April.
In the wake of covid-19 outbreak and ongoing lockdown restrictions, the Bengaluru-based office developer has also halted all construction activity and hotel operations to comply with government directives during the lockdown.
In a statement, chief executive Michael Holland said that REIT doesn't expect significant impact to its business due to covid-19. “While the covid-19 pandemic has resulted in an uncertain near-term outlook for many