NEW DELHI: Signature Global (India) has partnered with RMZ to establish a joint venture focused on a mixed-use development featuring office spaces, hotels, and retail units along the Southern Peripheral Road (SPR) in Gurugram.
According to the agreement, the companies will create a 50:50 joint venture, with RMZ investing ₹1,283 crore in the project.
Pradeep Aggarwal, founder & chairman of Signature Global (India), stated, “The Southern Peripheral Road has consistently developed into a significant hub for residential and commercial projects, bolstered by robust infrastructure and connectivity.”
As part of this deal, RMZ will acquire a 50% stake in Gurugram Commercity (GCL), a wholly owned subsidiary of Signature Global, via share purchase and subscription, thereby formalizing the joint venture.
The development will encompass over five million sq ft of leasable/saleable area, marking Signature Global’s entry into large-scale commercial real estate within its existing land portfolio.
Upon completion, the project’s total capital value is anticipated to reach between ₹14,000–17,000 crore.
