Signature Global, RMZ Form Rs 14,000–16,000 Crore JV for Mixed-Use Project in Gurugram

Signature Global has signed an agreement with RMZ, a commercial real estate developer and asset manager, to develop a large mixed-use project on Southern Peripheral Road in Gurugram. The two companies will form a 50:50 joint venture, with RMZ investing Rs 1,283 crore to acquire a 50 percent equity stake.

As part of the transaction, Gurugram Commercity Limited, a wholly owned subsidiary of Signature Global, and Millennia Realtors Private Limited, an RMZ entity, have entered into a Securities Subscription and Purchase Agreement through which RMZ will obtain the stake via a mix of share purchase and subscription. The development will have a floor space index of about 3.94 million square feet and include office buildings, hotels and retail spaces.

The project marks Signature Global’s entry into large-scale commercial real estate within its existing land portfolio, while RMZ will contribute expertise in design, leasing and asset management. The total capital value upon completion is expected to range between Rs 14,000 crore and Rs 16,000 crore, making it one of the larger mixed-use developments in the Gurugram region.

Commenting on the development, Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., said “Today marks an important milestone in Signature Global’s growth journey as we broaden our development portfolio with a large-scale mixed-use project. The Southern Peripheral Road has steadily emerged as a key hub for both residential and commercial development, supported by strong infrastructure and connectivity. This partnership with RMZ brings together complementary strengths and deep domain expertise, enabling us to deliver a high-quality, future-ready development. As our first major commercial development of this scale, the project reflects our commitment to creating long-term value and bringing best-in-class developments to our customers and stakeholders.”

Commenting on the partnership, Manoj Menda, Corporate Chairman, Supervisory Board, RMZ said, “We are pleased to partner with Signature Global on this significant mixed-use commercial development in Gurugram. The Southern Peripheral Road is rapidly emerging as a preferred commercial corridor, supported by strong occupier demand and improving infrastructure. 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.”