Real Estate

Real Estate Transactions

Embassy Group to invest Rs.600-Cr to develop 5.5 L sq ft office space in Bengaluru

Economic Times  

Real estate developer Embassy Group plans to invest around INR 600 crore to develop a 5.5 lakh sq ft of office space in Bengaluru. Mac Charles (India) Ltd., previous owners of the erstwhile Le Méridien Hotel, will project-manage the development. Embassy had bought a 73.4% stake in the company in 2016. The commercial development will be designed by Andy Fisher Workshop from Singapore. The property will promote sustainability and wellbeing for the tenants, with the environmental framework intrinsic to the design approach. The project will come up in Bengaluru's prime CBD area, where the iconic Le Méridien Hotel once stood. On completion, the project will become part of Embassy Office Parks REIT.