News: Signature Global, RMZ Form 50:50 Venture on Gurugram SPR-14-02-2026
Signature Global’s subsidiary Gurugram Commercity Ltd (GCL) and Millennia Realtors, an entity of Bengaluru-based RMZ, have signed a Securities Subscription and Purchase Agreement to develop an 18-acre commercial project on Southern Peripheral Road, Gurugram, with total investment of about Rs 7,500 crore, the company said on February 14.
RMZ will invest Rs 1,283 crore to take a 50 per cent equity stake in GCL, currently wholly owned by Signature Global, through a mix of share purchase and share subscription.
The project will have 55 lakh sq ft of leasable area. Company officials said about 35 million sq ft would be prime office space, with the rest given to retail and two hotels of around 500 rooms each. On completion its capital value is expected to be Rs 14,000-16,000 crore, placing it among the region’s larger mixed-use developments.
This is Signature Global’s first major move into large-scale commercial development on its existing land. It will bring execution and construction strength and knowledge of the Delhi-NCR market, while RMZ contributes experience in designing, leasing and managing large commercial and mixed-use assets.
Founder and chairman Pradeep Aggarwal said the company, mainly a housing developer, is entering commercial real estate in a big way through this platform with RMZ.
Manoj Menda, Corporate Chairman, Supervisory Board, RMZ, said the project fits RMZ’s focus on institutional-grade design districts that combine premium workplaces, hospitality and curated retail, and that RMZ intends to extend the partnership to commercial projects nationwide. He said office demand in India remains resilient, driven largely by Global Capability Centres, that work-from-home and hybrid arrangements have not weakened it, and that artificial intelligence is unlikely to hurt employment in India.
