In a regulatory filing, Embassy REIT said the company has signed a Lease Agreement (ATL) with 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 the ‘Embassy Manyata’ project, one of the largest business parks in Asia and one of the most prominent in India.
The new space is being designed as a turnkey solution, and Embassy REIT expects to deliver the facility, including fit-out, in the fourth quarter of calendar year 2026.
“Embassy has been home to CBA for 4 years and we are delighted to extend our long-standing partnership with one of the world’s leading financial institutions,” said Jitu Virwani, President and CEO of Embassy Group.
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India remains a prime destination offering both exceptional talent and top-notch office space, he said.
“We are proud to host some of the world’s leading banks, with a combined market capitalisation of $1 trillion, in our parks. We look forward to providing Commonwealth Bank of Australia with a first-class, one-of-a-kind campus,” Virwani said.
Aravind Maiya, CEO of Embassy REIT, said the landmark lease agreement with CBA marks its largest build-to-suit project to date.
“Over the past few years, we have developed five custom-built facilities spanning more than 4 million square feet for global occupiers whose real estate needs are increasingly sophisticated,” he said.
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Embassy Manyata, spread over 120 acres, is located in the prominent growth corridor of North Bengaluru. Embassy REIT is India’s first publicly listed real estate investment trust (REIT). It owns and operates a 51 million sq ft portfolio of 14 office parks across Bengaluru, Mumbai, Pune, the National Capital Region (NCR) and Chennai.
Embassy REIT’s portfolio comprises 37.7 million square feet of completed operational area, four operational business hotels, two hotels under construction and a 100 MW solar park supplying renewable energy to tenants.
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