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Embassy REIT sees near-term headwinds due to new covid wave

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BENGALURU : Embassy Office Parks REIT expects leasing sentiment to remain muted for another 2-3 quarters before picking up sometime in the latter half of 2021-22, with the the second wave of covid-19 cases.In a report, ICICI Securities said the REIT’s office rental collections were robust, with collections of over 99% in 2020-21 and the REIT portfolio has achieved contracted rental increases of 13% on 8.4 million sq.

ft. However, the onset of the second covid wave from March 2021 in India has led to occupiers again becoming cautious and holding back fresh leasing decisions and rationalizing existing office spaces," ICICI Securities said a report on Friday.As a result, the REIT has additional lease expiries of an estimated 1.9 million sq.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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