Signature Global and RMZ Partner to Develop Rs 7,500 Crore Mixed-Use Project in Gurugram

Delhi NCR-based real estate firm Signature Global has entered into a significant partnership with RMZ, a leading developer and asset manager of commercial real estate in India. The two companies have agreed to form a joint venture to develop a mixed-use project on the Southern Peripheral Road (SPR) in Gurugram. This ambitious project will encompass office buildings, hotels, and retail spaces, covering a total area of 55 lakh square feet.

Under the terms of the agreement, Signature Global and RMZ will establish a 50:50 joint venture. RMZ will invest Rs 1,283 crore to acquire a 50% equity stake in the project. The total investment for the project, including land costs, is estimated to be around Rs 7,500 crore. Upon completion, the total capital value of the development is projected to range between Rs 14,000 and Rs 16,000 crore, making it one of the largest mixed-use developments in the region.

Pradeep Aggarwal, Founder & Chairman of Signature Global (India), highlighted the strategic importance of this partnership. 'This project marks our first major foray into large-scale commercial real estate development. It is a significant step towards our vision of creating long-term value and delivering best-in-class developments to our customers and stakeholders,' he said. Aggarwal also mentioned that the project is expected to commence in six months and will take approximately 4-5 years to complete.

The joint venture will be structured through Gurugram Commercity Limited (GCL), a wholly-owned subsidiary of Signature Global, and Millennia Realtors Private Limited, an RMZ entity. The Securities Subscription and Purchase Agreement (SSPA) will enable RMZ to acquire a 50% equity stake in GCL through a combination of share purchase and share subscription, for an aggregate consideration of up to Rs 1,283 crore. This investment is expected to help Signature Global achieve a zero-net-debt status in the fiscal year 2026.

Aggarwal expressed optimism about the future, stating that this is just the beginning. 'We have the potential to add 15-20 million square feet of commercial property in the next 4-5 years. This partnership with RMZ brings together complementary strengths and deep domain expertise, enabling us to deliver a high-quality, future-ready development,' he emphasized.

Manoj Menda, Corporate Chairman of the Supervisory Board at RMZ, echoed similar sentiments. 'This project aligns well with RMZ’s focus on developing institutional-grade commercial assets with long-term leasing potential. Signature Global’s execution capabilities and deep understanding of the Delhi-NCR market make them an ideal partner. Together, we aim to create a high-quality, future-ready commercial destination that delivers sustained value for occupiers and investors,' Menda added.

The mixed-use project is not only a strategic move for both companies but also a significant contribution to the real estate landscape of Gurugram. With the growing demand for commercial and retail spaces in the region, this development is poised to become a key commercial hub, attracting businesses and enhancing the city's economic profile.

In addition to the commercial property, Signature Global will also develop branded residential units adjacent to the project. This integrated approach aims to create a comprehensive and vibrant community, offering a seamless blend of work and living spaces.

The partnership between Signature Global and RMZ is a testament to the strong synergies and shared vision of both companies. As they embark on this ambitious project, they are set to redefine the standards of commercial and mixed-use developments in Gurugram and beyond.