Signature Global Enters Large-Scale Commercial Development with RMZ for INR 1,283 Crore Gurugram Project
Signature Global (India) Ltd., one of India’s leading real estate development companies, has inked an agreement to form a joint venture with RMZ, a leading developer and asset manager of commercial real estate in India, to develop a mixed-use project comprising office buildings, hotels, and retail spaces on the Southern Peripheral Road (SPR) in Gurugram. The project is expected to have a total capital value of approximately INR 14,000-16,000 crore upon completion. RMZ will acquire a 50% equity stake in the project for INR 1,283 crore. The joint venture brings together the strengths of both partners, with Signature Global contributing strong execution and construction capabilities along with deep operational knowledge of the Delhi- NCR market, while RMZ brings its experience in designing, leasing, and managing large commercial and mixed-use developments.
Key Highlights
- Signature Global and RMZ to form a 50:50 joint venture for a mixed-use project in Gurugram.
- RMZ to invest INR 1,283 crore for a 50% equity stake in the project.
- The project is expected to have a total capital value of approximately INR 14,000-16,000 crore upon completion.
- The joint venture combines Signature Global's execution capabilities and deep understanding of the Delhi-NCR market with RMZ's experience in designing, leasing, and managing large commercial and mixed-use developments.
- The project is located on the Southern Peripheral Road, a key hub for both residential and commercial development.