Pune: Embassy Office Parks REIT (‘Embassy REIT’), India’s first listed REIT along with Blackstone, one of the world’s leading investment firms, have pledged their support to the non-governmental organization Roundtable India in its efforts to set up an oxygen generation facility at a hospital in New Baner, Pune.
As part of this initiative by the Pune Municipal Corporation, an oxygen generation facility with a capacity of 1,000 LPH and 209 hospital beds, with a total investment of INR 1.3 crores, will be set up at a COVID-19 dedicated hospital. The project has commenced and is expected to be completed by mid-July 2021.
Shri. Rubal Agarwal, I.A.S, Additional Municipal Commissioner, Pune Municipal Corporation, said, “On behalf of the Pune Municipal Corporation, we are grateful to Embassy REIT and Blackstone for their unceasing support during these challenging months. The current situation has put an immense strain on our resources. This oxygen generation facility is a critical step towards strengthening our healthcare infrastructure.”
Mike Holland, Chief Executive Officer of Embassy REIT, said, “We are pleased to join forces and mobilise our resources towards helping hospitals and healthcare workers in need. This challenging period has reaffirmed the importance of collaborative partnerships to create significant positive impact across communities.”
In addition, large-scale vaccination centers have been set up across Embassy REIT’s office assets in Bangalore, Mumbai, Noida and Pune. Till date, over 6500 people including frontline and construction workers have been vaccinated, with plans to complete the target of inoculating approximately 7000 people in the coming weeks.
Embassy REIT’s Corporate Connect Program has partnered with over 50 corporate tenants on 23 community projects, including the recent collaboration with ANZ, Swiss Re, Yahoo India, CapitaLand, AXA XL, Blackstone and Ivanhoé Cambridge to set up 69 ICU beds and life-saving medical equipment at three Government Hospitals in Bangalore. In addition, it has donated 10 oxygen concentrators and 15 BiPAP machines for patients in Pune and Delhi, respectively.