Signature forms JV with RMZ for development of mixed-use project in Gurugram
India, Feb. 16 -- SignatureGlobal India today inked an agreement to form a joint venture with RMZ, a leading developer and asset manager of commercial real estate in India, to develop a mixed-use project comprising office buildings, hotels, and retail spaces on the Southern Peripheral Road (SPR) in Gurugram.Under the agreement, Signature Global and RMZ will form a 50:50 joint venture, with RMZ committing an investment of Rs 1,283 crore to acquire a 50% equity stake in the project.As part of the transaction, the Company, Gurugram Commercity (GCL), a wholly owned subsidiary of SignatureGlobal, and Millennia Realtors , an RMZ entity, have entered into a Securities Subscription and Purchase Agreement (SSPA). Under the SSPA, RMZ will acquire a 5...
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