Where Embassy Oxygen is
Embassy Oxygen is close to the Noida-Greater Noida Expressway. The REIT describes it as one of Noida's largest office parks and as one of two special economic zone parks in its part of the market.
The park won the Best Project award in the corporate IT park category at the Workplace Excellence Awards 2020, run by iNFHRA.
How big it is
The park has 3.3 million square feet of completed office space and nothing further in development. Its last building, Tower 1, was delivered in April 2024 and added 0.7 million square feet. In June 2021, 2.5 million square feet was complete.
It is the larger of the REIT's two Noida properties. The other, Embassy Galaxy, has 1.4 million square feet and was 100% occupied in June 2026.
Occupancy and rent over time
| As of | Completed area | Occupancy | In-place rent (per sq ft a month) | Market value |
|---|---|---|---|---|
| Jun 2021 | 2.5 msf | 75.8% | ₹48 | ₹2,369 crore |
| Mar 2024 | 3.3 msf | 58% | ₹54 | ₹2,383 crore |
| Dec 2024 | 3.3 msf | 70% | ₹54 | ₹2,482 crore |
| Jun 2026 | 3.3 msf | 90% | ₹57 | ₹2,952 crore |
Oxygen's occupancy has moved more than that of any other large park in the REIT.
It was 75.8% in June 2021. By March 2024 it had fallen to 58%. Part of that drop is arithmetic: Tower 1 opened in April 2024 only 29% let, which added a lot of empty space at once. From there the park filled steadily, to 70% by December 2024 and 90% by June 2026.
Rent has changed much less. The average in place was ₹48 per square foot a month in 2021 and ₹57 in 2026, a rise of 19% in five years. That is well below the REIT's large Bengaluru campuses, where averages are ₹90 or more.
The market value has followed occupancy up. The REIT's valuation was ₹2,383 crore in March 2024 and ₹2,952 crore in March 2026.
The REIT's FY2021 annual report counted six occupiers. It has not published a newer count for this park alone, and with occupancy much higher now, that number is likely to be out of date.
Who owns it
Embassy Oxygen is owned by Embassy Office Parks REIT, a real estate investment trust listed on the NSE and BSE. The REIT owns 43.5 million square feet of completed offices in Bengaluru, Mumbai, Pune, Noida and Chennai.
Our ranking of Embassy REIT's office parks compares Oxygen with the REIT's other properties.
Terms used on this page
- Leasable area is the floor space that can be rented to tenants, in million square feet (msf). Completed area is built and ready. Development area is under construction or planned.
- Occupancy is the share of completed area that is leased.
- In-place rent is the average rent tenants are paying now, in rupees per square foot per month.
- WALE, the weighted average lease expiry, is the average number of years left on current leases, weighted by rent.
- Market value is the independent valuation the REIT publishes for the property, not a sale price.
Frequently asked questions
Where is Embassy Oxygen Business Park?
In Noida, close to the Noida-Greater Noida Expressway.
How big is Embassy Oxygen?
3.3 million square feet of completed office space on 24.83 acres, as of 30 June 2026.
Who owns Embassy Oxygen?
Embassy Office Parks REIT, a listed real estate investment trust.
What is the rent at Embassy Oxygen?
An average of ₹57 per square foot a month across existing leases, as of 30 June 2026. Rent on a new lease may differ.
Is Embassy Oxygen an SEZ?
The REIT describes it as one of two special economic zone parks in its Noida submarket.
Sources
- Q1 FY2027 earnings materials, 30 July 2026, Embassy Office Parks REIT. eopwebsvr.blob.core.windows.net. Accessed 11 October 2026. Area, occupancy, lease term, rent and valuation for each property as of 30 June 2026.
- Annual report FY2021: commercial offices, Embassy Office Parks REIT. embassyofficeparks.com. Accessed 11 October 2026. Land area, year of commencement and description of each park.
- Q3 FY2025 earnings package and supplemental databook, 29 January 2025, Embassy Office Parks REIT, filed with BSE. bseindia.com. Accessed 11 October 2026. Property figures as of 31 December 2024.
- Q4 and FY2024 results package and supplemental databook, 25 April 2024, Embassy Office Parks REIT, filed with BSE. bseindia.com. Accessed 11 October 2026. Property figures as of 31 March 2024.
- Q1 FY2022 earnings package and supplemental databook, 28 July 2021, Embassy Office Parks REIT, filed with BSE. bseindia.com. Accessed 11 October 2026. Property figures as of 30 June 2021.
