Embassy Office Parks REIT expects demand to bounce back in early FY22

Occupancies may fall 100-200 bps in the coming quarters

Embassy Office Parks REIT expects demand for office properties to bounce back by early FY22, said a senior executive of the company.

Request for proposals for 9 million square feet of office space are active in the market, said Vikaash Khdloya, deputy CEO at the REIT, in an interaction with Business Standard.

"Over 90 per cent of it is from global captive centres and technology firms. This will translate in two to three quarters. We expect demand to rebound by early FY22," he said.

Khdloya said the REIT expects office leasing of about 500,000 sq ft every quarter in the next two to