Signature Global and RMZ Group Forge Strategic Joint Venture for Gurugram Development

Signature Global and RMZ Group have formed a 50:50 joint venture to develop a mixed-use project in Gurugram. RMZ Group will invest Rs 1,283 crore. The development, with an impressive Floor Space Index, marks a significant milestone in Signature Global's portfolio diversification, projected to value up to Rs 16,000 crore.

In a landmark partnership, realty firm Signature Global has established an equal joint venture with Bengaluru's RMZ Group to undertake a mixed-use development project in Gurugram. The ambitious project is set to redefine the Southern Peripheral Road with its blend of office space, hospitality, and retail environments.

Signature Global and RMZ Group, both titans in the real estate sector, have committed to a 50:50 partnership, with RMZ investing Rs 1,283 crore to secure half of the project's equity. This collaboration brings together Signature Global's strategic land bank with RMZ's proven expertise in commercial real estate.

The development, covering a significant Floor Space Index of 3.94 million square feet, represents Signature Global's inaugural venture into grand-scale commercial real estate. The project is expected to command a capital value between Rs 14,000 crore and Rs 16,000 crore upon completion, reinforcing the diversification of Signature Global's portfolio.

(With inputs from agencies.)