Mumbai, Feb 16: Signature Global (India) Ltd., a leading real estate developer in India, today announced a strategic 50:50 joint venture with RMZ, Asia’s leading integrated alternative assets platform, to develop a large-scale mixed-use project on the Southern Peripheral Road (SPR) in Gurugram. The project will encompass office buildings, hotels, and retail spaces, marking a significant milestone in Signature Global’s commercial real estate expansion.
Under the agreement, RMZ, through its group entity Millennia Realtors Private Limited, will acquire a 50% stake in Gurugram Commercity Limited (GCL), a wholly owned subsidiary of Signature Global, via a combination of share purchase and share subscription. RMZ has committed an investment of ₹1,283 crore toward the development.
The planned mixed-use development spans a leasable/saleable area of over 5 million square feet and represents Signature Global’s first major commercial real estate project within its existing land portfolio. Upon completion, the total capital value of the project is estimated to be between ₹14,000–17,000 crore, positioning it as one of the largest integrated commercial developments in the region.
The joint venture combines Signature Global’s execution and construction expertise and deep knowledge of the Delhi-NCR market with RMZ’s experience in designing, leasing, and managing institutional-grade commercial and mixed-use developments. Together, the partners aim to deliver a high-quality, future-ready urban destination.
Commenting on the milestone, Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., said:
“This partnership with RMZ marks an important step in Signature Global’s growth journey as we expand into large-scale commercial real estate. The Southern Peripheral Road has become a key hub for residential and commercial development, supported by strong infrastructure and connectivity. Combining our execution capabilities with RMZ’s domain expertise allows us to deliver a world-class, future-ready mixed-use development that creates long-term value for our customers and stakeholders.”
Manoj Menda, Corporate Chairman, Supervisory Board, RMZ, added:
“We are excited to partner with Signature Global on this strategic mixed-use commercial development. SPR is emerging as a preferred commercial corridor with strong occupier demand. This project aligns with RMZ’s vision of creating integrated design districts that combine premium workplaces, hospitality, and curated retail within a cohesive urban framework. Signature Global’s deep market knowledge and execution strength make them an ideal partner, enabling us to deliver a high-quality, future-ready commercial destination.”
The project underscores both companies’ commitment to shaping Gurugram’s urban landscape and setting a benchmark for integrated, large-scale commercial developments in India.
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