Gurugram‘s buzzing Southern Peripheral Road (SPR) just got a big upgrade. Signature Global (India) Ltd., a real estate company, is known for some of Delhi-NCR’s popular residential projects. And now, news is that Signature Global (India) Ltd has joined hands with RMZ—a commercial real estate giant, for a 3.94 million sq ft mixed-use extravaganza. The new project promises sleek offices, swanky hotels, trendy retail—all at one place. This 50:50 joint venture (JV) is a big leap for Signature Global into commercial turf, backed by RMZ’s ₹1,283 crore investment. Read on to know more about it here:
The Deal: How It All Comes Together
Signature Global’s wholly-owned subsidiary, Gurugram Commercity Limited (GCL), is at the heart of this partnership. They’ve signed a Securities Subscription and Purchase Agreement (SSPA) with RMZ’s Millennia Realtors Private Limited. RMZ grabs a 50% equity stake through a mix of share purchases and subscriptions, totaling up to ₹1,283 crore. It’s a smart 50:50 split that plays to both sides’ strengths.Signature Global brings rock-solid execution, construction muscle, and insider know-how of Delhi-NCR’s quirks. RMZ? They’re the pros at designing, leasing, and managing blockbuster commercial spaces.
Together, they’re cooking up a development with a total capital value of ₹14,000–16,000 crore upon completion—one of the region’s largest mixed-use projects.
Why SPR?
Southern Peripheral Road isn’t just any stretch—it’s Gurugram’s rising star. The reason: Good connectivity (with Dwarka Expressway and upcoming metro), infrastructure, and rise in residential porperties make it a magnet for many businesses and lifestyles. This project fits the bill for many– promising offices for ambitious professionals, hotels for travellers, and retail for families. For Signature Global, it’s their first big commercial play from their existing land bank—a diversification masterstroke after dominating residential scenes.
What the leaders are saying
Talking about the new development, Pradeep Aggarwal, Founder & Chairman, Signature Global, said in a press release, “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.”Manoj Menda, Corporate Chairman, Supervisory Board, RMZ, echoed the vibe and 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.”The bigger picture is that this JV signals Gurugram’s shift to world-class mixed-use destinations. It aims to blend live-work-play– like Bangalore’s Manyata or Mumbai’s BKC.
Source – The Times of India
