Embassy REIT Leases 1.4 MSF to Commonwealth Bank of Australia at Embassy Manyata in Bengaluru

New Delhi / August 21, 2024: Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced today that it has signed an Agreement to Lease (‘ATL’) with global banking major the Commonwealth Bank of Australia (‘CBA’) for a premium office campus of approximately 0.8 million sq. ft. along with an expansion option of an additional 0.6 million sq. ft. at Embassy Manyata, a prominent business park in Bengaluru. The new space is being designed as a comprehensive built-to-suit solution, and Embassy REIT expects to deliver the facility including fitouts in the fourth quarter of the calendar year 2026. 

Jitu Virwani, Chairman & Managing Director of Embassy Group, said,

“Embassy has been home to CBA for 4 years, and we’re delighted to extend our long-standing partnership with one of the world’s leading financial institutions. India continues to be a prime destination that offers both exceptional talent and top-tier office spaces. We’re proud to host some of the world’s leading banks with a combined market capitalization of $1 trillion in our parks. We look forward to delivering a world-class, one-of-its-kind campus to Commonwealth Bank of Australia.”

Aravind Maiya, Chief Executive Officer, Embassy REIT, said, “We are thrilled to announce this landmark lease deal with CBA, which marks our largest built-to-suit project to date. In the last few years, we’ve developed five built-to-suit facilities comprising over 4 msf for global occupiers whose real estate needs are getting increasingly more sophisticated. Embassy Manyata’s integrated development and world-class ecosystem and amenities were key factors for CBA. The project’s scale and sophistication exemplifies our ability to execute large-scale developments that meet the highest standards of global clients like CBA.”

Spanning over 120 acres, Embassy Manyata is a premier business destination that feature modern workspaces with its state-of-the-art infrastructure and world-class amenities. It’s strategically located in the prominent growth corridor of North Bengaluru.