Signature Global inks JV with RMZ for mixed-use project in Gurugram

Strategic Partnership Marks Signature Global's Entry into Large-Scale Commercial Development

In a significant move to diversify its real estate portfolio, Gurugram-based developer Signature Global has inked a joint venture agreement with Bengaluru's RMZ Group to develop an ambitious mixed-use project. The partnership, formalized on February 14, represents Signature Global's first major foray into large-scale commercial real estate development. Under the 50:50 joint venture structure, RMZ Group has committed an investment of Rs 1,283 crore to acquire an equal equity stake in the project through its subsidiary Millennia Realtors Private Limited. The transaction involves the acquisition of a 50 percent stake in Gurugram Commercity Limited, a wholly-owned subsidiary of Signature Global, through a combination of share purchase and share subscription agreements.

Project Scope and Location Details

The mixed-use development will be constructed on Southern Peripheral Road in Gurugram, an area that has emerged as a key hub for both residential and commercial expansion. The 18-acre project will feature a comprehensive mix of uses including office buildings, hotel accommodations, and retail spaces, creating an integrated urban environment designed to serve multiple market segments. With a Floor Space Index of 3.94 million square feet, the development is positioned to be among the region's larger mixed-use projects. Upon completion, the total capital value of the development is expected to range between Rs 14,000 crore and Rs 16,000 crore, reflecting the scale and ambition of this commercial venture. The location on Southern Peripheral Road provides strategic connectivity and accessibility for both occupiers and visitors.

Complementary Strengths Drive Partnership Vision

The collaboration brings together two complementary forces in real estate development. Signature Global contributes its strong execution capabilities, deep operational knowledge of the Delhi-NCR market, and access to valuable land holdings within its existing portfolio. RMZ Group, primarily focused on commercial real estate, brings its extensive expertise in designing, leasing, and managing large commercial and mixed-use developments. The partnership leverages RMZ's experience in developing institutional-grade commercial assets with long-term leasing potential, combined with Signature Global's proven track record in construction and project execution.

With this JV with RMZ Group, we are foraying into large-scale commercial real estate development in a big way. This partnership with RMZ brings together complementary strengths and deep domain expertise, enabling us to deliver a high-quality, future-ready development.

The collaboration is structured to maximize efficiency and deliver value to multiple stakeholders including occupiers, investors, and the broader development community. RMZ's focus on creating design districts—integrated environments that bring together premium workplaces, hospitality, and curated retail within cohesive urban frameworks—aligns perfectly with the project's vision. This alignment of strategic objectives and complementary capabilities positions the joint venture to address the growing demand for high-quality mixed-use commercial spaces in the Delhi-NCR region.

Market Context and Strategic Significance

Southern Peripheral Road has steadily emerged as a preferred location for commercial development, supported by strong infrastructure and connectivity improvements. The timing of this partnership reflects broader market trends toward integrated, multi-use developments that offer operational efficiency and enhanced user experience. For Signature Global, traditionally focused on residential projects, this venture marks a strategic diversification milestone. The company has successfully created a development platform with RMZ Group, leveraging the latter's established expertise and credibility in commercial real estate to enter a new market segment. This partnership demonstrates how specialized expertise and operational capabilities can combine to unlock new opportunities in competitive real estate markets.

The joint venture is expected to deliver a high-quality, future-ready commercial destination that provides sustained value for both occupiers seeking premium workspaces and investors looking for long-term commercial real estate exposure. As the project progresses through development phases, it will contribute to enhancing Gurugram's commercial real estate landscape and reinforce the region's position as a premier business destination in the National Capital Region.