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

23 Feb 2026 CW Team

Signature Global (India) Ltd has agreed a 50:50 joint venture with RMZ to develop a mixed-use project comprising office buildings, hotels and retail 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 12.83 billion (bn). The arrangement was formalised under a securities subscription and purchase agreement.

The project will have a floor space index (FSI) of 3.94 million (mn) square feet and represents Signature Global's first major large-scale commercial development within its existing land portfolio. The development is expected to have a total capital value upon completion in the range of Rs 140–160 billion (bn), positioning it among the larger mixed-use schemes in the region. The site on the Southern Peripheral Road benefits from strong infrastructure and connectivity.

Under the joint venture, Signature Global will provide execution and construction capabilities and operational knowledge of the Delhi-NCR market while RMZ will contribute expertise in designing, leasing and managing institutional-grade commercial assets. The partners anticipate that combining these capabilities will support leasing potential and long-term value creation for occupiers and investors. The transaction consolidates the companies' complementary strengths in development and asset management.

The deal marks a strategic milestone in Signature Global's portfolio diversification and signals a shift towards institutional-scale commercial projects. The 50:50 ownership structure and the capital commitment from RMZ are expected to underpin project delivery and attract occupiers seeking future-ready commercial destinations. The companies indicated that the project aligns with trends favouring the Southern Peripheral Road as a preferred commercial corridor.

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