Signature Global and RMZ Form 50:50 JV for Gurugram Mixed Use Project

20 Feb 2026 CW Team

The development will have a floor space index of three point nine four million (mn) square feet and will include institutional-grade office buildings, hotels and retail areas designed for long-term leasing. The project represents Signature Global's first major commercial development within its existing land portfolio and is intended to broaden the company's development mix and revenue streams. Site selection on the Southern Peripheral Road reflects improving infrastructure and occupier demand in the corridor.

The joint venture combines Signature Global's execution and construction capabilities and local market experience with RMZ's expertise in designing, leasing and managing large commercial and mixed-use assets. Company statements indicated the partners expect to leverage complementary strengths to deliver a high-quality destination aimed at occupiers and investors. The structure aligns with RMZ's strategic focus on institutional-grade assets and Signature Global's aim to create long-term value.

The total capital value of the development upon completion is expected to be Rs 140–160 billion (bn), positioning the project among the larger mixed-use schemes in the region. Planned delivery timelines and leasing plans were described as subject to approvals and market conditions, with the partners signalling intent to focus on sustainable, future-ready infrastructure. The transaction is therefore presented as a strategically significant milestone in Signature Global's portfolio diversification and in RMZ's expansion of commercial assets.

Signature Global (India) Ltd and RMZ have agreed to form a 50:50 joint venture to develop a mixed-use project comprising office, hotel and retail space on the Southern Peripheral Road in Gurugram. RMZ will acquire a 50 per cent equity stake in Gurugram Commercity Limited, a wholly owned subsidiary of Signature Global, through a combination of share purchase and share subscription for an aggregate consideration of Rs 12,830 million (mn). The parties will effect the transaction under a Securities Subscription and Purchase Agreement between Signature Global, Gurugram Commercity Limited and the RMZ entity. The development will have a floor space index of three point nine four million (mn) square feet and will include institutional-grade office buildings, hotels and retail areas designed for long-term leasing. The project represents Signature Global's first major commercial development within its existing land portfolio and is intended to broaden the company's development mix and revenue streams. Site selection on the Southern Peripheral Road reflects improving infrastructure and occupier demand in the corridor. The joint venture combines Signature Global's execution and construction capabilities and local market experience with RMZ's expertise in designing, leasing and managing large commercial and mixed-use assets. Company statements indicated the partners expect to leverage complementary strengths to deliver a high-quality destination aimed at occupiers and investors. The structure aligns with RMZ's strategic focus on institutional-grade assets and Signature Global's aim to create long-term value. The total capital value of the development upon completion is expected to be Rs 140–160 billion (bn), positioning the project among the larger mixed-use schemes in the region. Planned delivery timelines and leasing plans were described as subject to approvals and market conditions, with the partners signalling intent to focus on sustainable, future-ready infrastructure. The transaction is therefore presented as a strategically significant milestone in Signature Global's portfolio diversification and in RMZ's expansion of commercial assets.

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