Uptick in office leasing continues, c.3.8 msf leased in the first 9 months of FY22
Pre-leased an entire upcoming building of c.0.7msf at Commerzone Kharadi, Pune
Declared distribution of INR 4.64 per unit
Mumbai, February 12, 2022: Mindspace Business Parks REIT (BSE: 543217 | NSE: MINDSPACE) (‘Mindspace REIT’), owner and developer of quality Grade A office portfolio located in four key office markets of India, reported results for the quarter and nine months ended December 31, 2021.
Performance Update
Financial Update
Distribution
Speaking on the results, Mr. Vinod Rohira, Chief Executive Officer, said, “Mindspace Business Park REIT witnessed a significant uptick of leasing activity with c.1.8 msf of space leased in the December quarter, taking the overall leasing to c.3.8 msf the first 9 months of FY22. The significant change in occupiers’ preference towards quality office spaces which adhere to the best standards of health, safety, experience, and wellness protocols has helped increase demand for our portfolio. We expect this trend to accentuate further in the coming quarters. The Union Budget’s impetus of replacing the SEZ policy to improve ‘Ease of doing business’ in SEZs would provide fillip to the demand for SEZ spaces in our Portfolio.”
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