Embassy Developments Signs MoU for ₹1,500 Crore Project in UP
NEW DELHI: Embassy Developments has finalized a non-binding memorandum of understanding (MoU) with the Uttar Pradesh government for a proposed commercial real estate project in Lucknow. The preliminary proposal, signed under the Invest UP initiative, plans for the development of approximately 2.5-3 million sq ft of office-centric commercial real estate, with an estimated investment of around ₹1,500 crore. This development will signify Embassy Developments’ entry into the commercial real estate sector within the state. “Lucknow has the potential to transform into a robust commercial hub for the next phase of India’s office-led growth,” stated Jitendra Virwani, chairman of Embassy Group.…