NEW YORK, NY and BENGALURU, INDIA / ACCESSWIRE / March 18, 2024 / International WELL Building Institute:
Awarded 48 WELL Gold Certifications; the highest received by any single organization worldwide
Embassy Office Parks REIT (NSE: EMBASSY/BSE:542602) ('Embassy REIT'), India's first listed REIT and the largest office REIT in Asia by area, and International WELL Building Institute (IWBI), are delighted to announce that Embassy REIT has received the highest number of WELL Certifications globally for its pan-India office portfolio. IWBI is a leading global institution driving market transformation toward healthier buildings, organizations and communities. The WELL Certification program under IWBI's WELL Building Standard evaluates various aspects of building design, construction, and operation, focusing on ten key areas - air, water, nourishment, light, movement, thermal comfort, sound, materials, mind, and community.
Embassy REIT earned 183 WELL achievements and a portfolio score of 60. Of the 90 office buildings evaluated, 48 were "WELL Certified" at the Gold level, 47 were "WELL Pre-certified" and 100% of the operational portfolio received the "WELL Health Safety Rating". Embassy REIT was also recognized with many prestigious awards offered by IWBI to its WELL at scale participants, such as, the People First Award in Real Estate, the WELL Certification Leadership Award, the WELL Concept Leadership Award for Movement and the WELL Concept Leadership Award for Innovation concept.
Aravind Maiya, Chief Executive Officer of Embassy REIT, said, "We're pleased to achieve the prestigious WELL Certifications, showcasing our leadership in driving sustainability in commercial real estate. Our ongoing 5-year partnership with IWBI, through the WELL at scale program, reflects our commitment to international well-being standards and best practices across our office portfolio. At Embassy REIT, our focus is to provide exceptional workspaces and build a holistic business ecosystem for our occupiers. This global recognition from a renowned institute like IWBI further highlights the strength of our world-class business parks."
"We commend Embassy REIT for prioritizing people's health, well-being, and safety as a core aspect of its business," said IWBI President and CEO Rachel Hodgdon. "We are pleased that Embassy REIT has chosen WELL at scale as the framework to guide strategy and execution. Embassy REIT stands out as a market leader in health and sustainability, and we believe its example will spur others to join us in creating people-first places."
WELL Certifications are the highest, most comprehensive level of achievement under the WELL Building Standard. By prioritizing human health in design and operations, certified spaces not only advance occupants well-being, but also inspire a healthier, more sustainable future for all. Among the WELL achievements, Embassy REIT earned 100% scores under the WELL Movement concept embracing all strategies in this area to promote workplace physical activities.
About the International WELL Building Institute
The International WELL Building Institute (IWBI) is a public benefit corporation and the world's leading organization focused on deploying people first places to advance a global culture of health. IWBI mobilizes its community through the administration of the WELL Building Standard (WELL) and its WELL ratings, management of the WELL AP credential, the pursuit of applicable research, the development of educational resources, and advocacy for policies that promote health and well-being everywhere. More information on WELL can be found here.
International WELL Building Institute, IWBI, the WELL Building Standard, WELL v2, WELL Certified, WELL AP, WELL EP, WELL Score, The WELL Conference, We Are WELL, the WELL Community Standard, WELL Health-Safety Rated, WELL Performance Rated, WELL Equity Rated, WELL Equity, WELL Residence, Works with WELL, WELL and others, and their related logos are trademarks or certification marks of International WELL Building Institute pbc in the United States and other countries.
About Embassy REIT
Embassy REIT is India's first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 45.4 million square feet ("msf") portfolio of nine infrastructure-like office parks and four city-centre office buildings in India's best-performing office markets of Bengaluru, Mumbai, Pune, and the National Capital Region ("NCR"). Embassy REIT's portfolio comprises 35.8 msf completed operating area and is home to 244 of the world's leading companies. The portfolio also comprises strategic amenities, including four operational business hotels, two under-construction hotels, and a 100 MW solar park supplying renewable energy to tenants. Embassy REIT's industry leading ESG program has received multiple accolades from renowned global institutions and was awarded a 5-star rating both from the British Safety Council and GRESB. Embassy REIT was also recognized as the world's largest 'USGBC LEED Platinum-Certified' office portfolio (v4.1 O+M) by Green Business Certification Inc. For more information, please visit www.embassyofficeparks.com
Disclaimer
This press release is prepared for general information purposes only. The information contained herein is based on management information and estimates. It is only current as of its date, has not been independently verified and may be subject to change without notice. Embassy Office Parks Management Services Private Limited ("the Manager") in its capacity as the Manager of Embassy REIT, and Embassy REIT make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. Each recipient will be solely responsible for its own investigation, assessment and analysis of the market and the market position of Embassy REIT. Embassy REIT does not provide any guarantee or assurance with respect to any distribution or the trading price of its units.
This press release contains forward-looking statements based on the currently held beliefs, opinions and assumptions of the Manager. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of Embassy REIT or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Manager disclaims any obligation to update these forward-looking statements to reflect future events or developments or the impact of events which cannot currently be ascertained. In addition to statements which are forward looking by reason of context, the words 'may', 'will', 'should', 'expects', 'plans', 'intends', 'anticipates', 'believes', 'estimates', 'predicts', 'potential' or 'continue' and similar expressions identify forward-looking statements.
This press release also contains certain financial measures which are not measures determined based on GAAP, Ind-AS or any other internationally accepted accounting principles, and the recipient should not consider such items as an alternative to the historical financial results or other indicators of Embassy REIT's cash flow based on Ind-AS or IFRS. These non-GAAP financial measures, as defined by the Manager, may not be comparable to similarly titled measures as presented by other REITs due to differences in the way non-GAAP financial measures are calculated. Even though the non-GAAP financial measures are used by management to assess Embassy REIT's financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipient should not consider them in isolation or as substitutes for analysis of Embassy REIT's financial position or results of operations as reported under Ind-AS or IFRS. Certain figures in this press release have been subject to rounding off adjustments. Actual legal entity name of occupiers may differ.
For more information please contact:
Shwetha Reddy Sakshi Garg
Head of PR, Marketing and Communications Investor Relations Manager
Email: shwetha.r@embassyofficeparks.com
Email: ir@embassyofficeparks.com
Phone: +91 8867845915
Phone: +91 80 4722 2222
IWBI: Media@wellcertified.com
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SOURCE: International WELL Building Institute
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