Embassy Group enters into Joint Venture in Bengaluru to develop IT Park with Century Real Estate

Embassy Group to Develop IT Park in Bengaluru Through Joint Venture at Bellary Road.. Embassy Group, a leading office space developer, is finalizing a joint venture with Century Real Estate Holdings for an IT park project in Bengaluru.

• Project Highlights:

  • Location: 11-acre land parcel on Bellary Road, Bengaluru
  • Project Type: IT park (approx. 1.3 million sq ft)
  • Development Partner: Embassy Group (with responsibility for project development)
  • Investment: Around ₹500 crore (including land deposit)

• Significance for Century Real Estate:

  • Aligns with their strategy to monetize land holdings through partnerships with established developers.
  • Allows them to focus on their core business of residential development.
  • Century Real Estate is exploring similar joint ventures for other land parcels in Bengaluru (Yelahanka, Hebbal, Electronic City).

• Trend of Joint Development Deals:

  • Gaining traction in the Indian real estate sector.
  • Enables mid-sized developers to leverage the expertise and resources of larger firms.
  • Examples include Godrej Properties’ recent partnerships for projects in Noida and Thane.

• Expert Opinion:

  • Juggy Marwaha, MD-South at JLL India, sees joint development models as a future trend for real estate development.
  • This approach benefits family-owned developers and those lacking resources by providing access to better execution, financial strength, and asset management capabilities.

Overall, this joint venture reflects a growing trend in Indian real estate where collaboration between developers is unlocking new opportunities.