Embassy Group is a leading real estate developer with a track record of 30 years, and we have many firsts to our credit. So far, we were a Bengaluru specific developer but now we have various businesses across the country and internationally too.
It is interesting to note that Bengaluru has emerged yet again as the top destination for companies in the first quarter of 2018. According to the recent CBRE Report, out of the near 11 million sq. ft. leased during the 1st quarter of 2018 is at an all-time high and marked a growth of 25% compared to the same period last year. Leading the major deals in the quarter was Flipkart setting up their new campus at Embassy TechVillage Business Park. The campus spread over 8,30,000 sq. ft. has a seating capacity of over 7,300 people. Flipkart has around 7,600 employees, including those in functions like warehouse and logistics. About 6,800 employees would operate out of the new campus in Bengaluru at Embassy TechVillage.
As the real estate market continues to advance with the impact of the regulations unfolded in 2017, the sector’s future growth prospects in 2018 look promising.
Feeling the Pulse of the Future
At Embassy, we have been able to feel the pulse of the future, before it unravels. Long before the gravitation towards large Integrated Business Parks, we provided the ecosystem. Currently, our Parks house over 2,30,000 Park users, who love their workspaces. Our Residential business continues to set benchmarks for our niche luxury projects, offering differentiated products, Private Residences, and sustainable homes which are relevant for the future.
If I had to pinpoint any one reason for this phenomenal growth, I would say that it is our ability to see things well ahead of time and quickly sense where the future is headed.
Foresight is one thing. However, having the courage to act upon it, is something else altogether. As we’ve proven over the years, we’ve not just had the vision to see where the world is headed, we’ve consistently had the tenacity and strength of will to take us there. It is this spirit that makes Embassy Group what it is, and it is this spirit that we are celebrating today as we stand on the cusp of an exciting future.
Embassy’s Future Roadmap
At this juncture, I’m thrilled to announce that our Corporate campaign encompassing our business in entirety, was launched last month. The corporate campaign, well thought through and conceptualized is all about ‘Future First’. In a nutshell – The Embassy Group has always anticipated where the world is going. And in doing so, we’ve helped our investors, partners, and customers get to the future ahead of anyone else. You’ll see our commercial that captures this spirit on major business news and lifestyle channels. This visually stunning commercial, produced by one of the country’s leading studios, shines the spotlight on each of our diversified businesses – showcasing how our pioneering spirit has given us the high ground across the Real Estate spectrum – Commercial, Residential, Industrial, Hospitality and Services.
The Embassy Taurus World Technology Center in Kerala has finally received government’s nod and we’re thrilled to start this landmark project which will transform the face of the state. We also have great news on the industrial front. With the construction of the Chakan Park progressing, and the first block is ready, we will hand it over to the client within this quarter.
We also signed a MoU with West Bengal Government for 100-acre land and a JD with Patton Group for a 30-acre land this quarter.
We’re thrilled for the new Four Seasons hotel and private residences that will debut as Four Seasons Hotel Bengaluru and Four Seasons Private Residences Bengaluru at Embassy ONE in the summer of 2018 . We also signed our third hotel project with Hilton at Embassy TechVillage Business Park, reflecting the powerful synergies and collaboration between both Groups.
Leveraging Embassy’s proven expertise in project development, we are focused on delivering landmark hotels that will provide an elevated service for our corporate occupiers within their work environment.
Continuing our march towards sustainable technology, we will supply power to various business parks owned/operated by Embassy Group namely, Embassy GolfLinks Business Park, Embassy Manyata Business Park and Embassy TechVillage Business Park through the 100MW solar PV Plant. All the parks are scheduled to go live with green power from April 2018.
I also had the pleasure to be a part of the elite delegation from India, representing Equestrian Federation of India (EFI) at the inaugural edition of the Asia Horse Week held alongside the Longines Masters of Hong Kong.
Future First. Always
Embassy’s Future First vision and our diversified interest have set trends giving rise to many successful enterprises, as we continue to be a part of the India growth story in great measure. It has been an outstanding year in terms of our business, expansion, innovation, and growth.
We are grateful for the goodwill and support from each one of you, which has helped us shape this organization to what it is today and continually aspire to do more and be more.