Embassy and Taurus Investment Join Hands for Landmark SEZ Development in Trivandrum

Embassy through its entity Embassy Property Development Pvt Ltd, has entered into an agreement with Taurus Investment Holdings, a Real Estate Private Equity Investment and Development Company headquartered out of Boston, Massachusetts, U.S. to form a joint venture called Winterfell Realty Private Limited to develop an SEZ property in Trivandrum, Kerala.

This will be Embassy's first project in the State and it will be known as Embassy Taurus World Technology Centre, Trivandrum . Embassy will have an equity commitment of 49% while Taurus Investment Holdings will hold the remaining 51%.

The partnership entails an economic interest of 50:50 for both entities in the Joint venture. This partnership strengthens Embassy's Commercial office space portfolio and development of SEZs in key strategic locations.

Embassy Taurus World Technology Centre will be constructed within the existing Techno Park primarily on a 10-acre SEZ land parcel, as part of a mixed-use development spread across a total of 20 acres. The office component will encompass 2.3 mn sq feet i.e. 65% of the total area of the larger project, with the rest to be developed as retail and a hotel. The 1st Phase of office development comprises of 1.4 mn sq feet office space, and is expected to be completed within 24-30 months.

The land parcel will be leased from Techno Park for a period of 90 years, with an additional renewal option of another 90 years. The 2nd phase will be launched subsequently based on the leasing velocity, with a projected total completion period of 60 months. Brookfield Financial advised on the transaction.

Commenting on the formation of the Joint venture, Jitu Virwani, Chairman & Managing Director, Embassy, said, "The establishment of SEZ in India has been envisaged as an important strategic tool to expedite the growth of international trade and services. We are committed to be a part of this significant growth, with our exclusive SEZ project developments across locations. Our partnership with Taurus Investment Holdings fosters this vision, and marks our foray into the state of Kerala. Embassy Taurus World Technology Centre is strategically located and has tremendous potential, with well-known firms planning major developments in the region. The great synergy we share with Taurus Investment Holdings, will help us nurture a longstanding relationship with them."

Ajay Prasad - Country Managing Director, India - Taurus Investment Holdings LLC said, "Taurus has a legacy of more than four decades of successful investments across countries. Real estate is a focused play and we have been on the constant lookout for a suitable strategic partner for this venture. We are excited to begin a new chapter in our history in partnership with Embassy, which is a well-established developer in India with unmatched expertise in office development as well as a class-leading client portfolio. Together, Taurus and Embassy will develop a landmark project in a very exciting new market."

Embassy Becomes Co-developer for 30 Acre Chennai SEZ

Embassy Group, India’s leading property developer, has received approval from the Board of Approval to act as exclusive Co-Developer for the Notified SEZ at Chennai previously known as SNP Infrastructure Private Limited.

The project, a 30 acre SEZ property near Vel’s University on Thoraipakkam-Pallavaram radial road in Chennai will be known as Embassy Splendid TechZone.

The Bhoomi Pooja held on June 15 was attended by Embassy Group and SNP Infra team members. Phase 1 of this project will be 2 million sq. ft. is expected to be completed in 2019.

Talking on the MoU, Jitu Virwani, Chairman and Managing Director, Embassy Group, said, “We are excited to move ahead with this new partnership and add it to our existing multi SEZ portfolio. With this, we plan to strengthen our foothold in Chennai, a city with tremendous growth potential and a key market for our business. We share great synergy with SNP Infrastructure and look forward to having a longstanding relationship with them.”

Speaking on the occasion, Mike Holland, CEO Embassy Office Parks said, “Embassy Splendid Tech Zone, Chennai is strategically located less than 4 km from the Chennai airport, easily accessible from both OMR and GST roads, and served by Pallavaram & Velacherry railway station with strong local and residential neighbourhoods which can cater to, and benefit from, the planned IT SEZ. The location is elevated which gives natural protection from flooding and support to business community needs. Corporate occupiers could not wish for a more strategic location. We are already seeing strong demand from both residential and commercial users in this location.”

PR Gopal Raju, Chairman, SNP Infrastructure said, “We are happy to partner with Embassy Group for this venture and we look forward to recommencing construction of our first 2 m sq. ft. of SEZ offices at the earliest.”

Recently two of the existing Embassy SEZ’s in Bangalore were acknowledged as “Best Performing SEZs in India”. Embassy Manyata Business Park promoted by Manyata Promoters Private Limited and Embassy TechVillage promoted by Vikas Telecom Private Limited have been awarded with Certificate of Excellence by the Ministry of Commerce and Industry. Embassy Manyata Business Park and Embassy TechVillage were both notified as Special Economic Zones in 2006 and both have lived up to the objectives of the SEZ regime, which is to promote infrastructural development, generate employment, promote exports. These awards further acknowledge the market leading performance of the Embassy SEZ’s.

As on March 2016, Embassy has developed three SEZ’s with total investments of around Rs4700 Crore, with built up areas of 9.8 m sq. ft., generating 172,000 direct jobs, within 84 SEZ Units, and exports approximately Rs. 67,000 Crore.

Embassy Group Launches Bengaluru's Largest Integrated Masterplanned City

Embassy Group, India’s leading real estate developer today announced the launch of Embassy Springs, Bengaluru’s largest masterplanned city, within the silicon valley of India.

Spread across 300 acres in North Bangalore, Embassy Springs comprises of 188 acres of plots, 41 acres of apartments, 22 acres of villas & row houses, 20 acres of club & schools and 35 acres of commercial & retail space.

Over the last decade, Bengaluru has increasingly become an attractive investment destination nationally and internationally and has pipped the NCR region to become the second most preferred investment destination for investors after Mumbai. The city’s rapid progress in technology and global connectivity has helped drive real estate growth in the city and the northern corridor of Bangalore has specifically emerged as a favoured location for real estate investments owing to the international airport, planned infrastructure developments, land availability, greater connectivity and IT parks.

Embassy Springs is strategically located just 8 kms before the Bengaluru International Airport, right before the toll plaza and is set close to the upcoming IFCI Financial City and KSIIDC Devanahalli Business Park, where real estate prices are on the upswing. Conceptualized as a truly self-sustained city by expert architects, design and landscape consultants, Embassy Springs is a perfect harmony between pristine natural & luxurious urban living. It offers a plethora of housing choices along with schools, hospitals, parks, clubs, commercial and retail spaces,  providing proximity to work, home and play.

Commenting on the launch, Jitu Virwani, Chairman & Managing Director, Embassy Group, said, “We are delighted to launch Embassy Springs – the largest and most ambitious offering from Embassy to date – where we have invested in extensive masterplanning and careful detailing with the help of experts from across the world – to bring to India this experience of a self-sustained city. Embassy Springs provides the best of amenities and facilities, and is a result of our vision to provide a holistic living experience that improves quality of life. It is a representation of Bangalore in its true form – where the garden city meets the Silicon Valley of India to deliver a singular living experience.”

He further added, “Embassy Group has been a prominent property developer in the commercial and residential real estate sectors for the past several years. The launch of Embassy Springs further reinforces our continued focus on creating a large residential portfolio with a strong focus on the North Bengaluru corridor.” 

Reeza Sebastian, Vice President, Residential Marketing & Sales, Embassy Group, said, “Bangalore is a plethora of mixed cultures blending seamlessly to give you the finest taste of metropolitan living. With Embassy Springs, we aim to redefine the meaning of suburban living in India by providing citizens a luxurious living experience in the midst of Mother Nature, offering world class amenities. It is an exemplification of people who have evolved lifestyle experiences and aspire to live a good life. Embassy Springs will be a place of continual evolution and prosperity, where people from around the world will desire to live.”

This launch complements Embassy Group’s strong northern corridor strategy which today includes the flagship Manyata Embassy Business Park, India’s largest integrated business park, as well as existing premium residential developments Embassy ONE – which houses South India’s first Four Seasons Private Residences and Four Seasons Hotel, Embassy Boulevard  and Embassy Lake Terraces.

About Embassy Springs

• Embassy Springs is Bengaluru’s biggest master planned city, within the silicon valley of India

• A perfect harmony between pristine natural & luxurious urban living

• 360 degree development plan laying emphasis on not just the residences but overall development of Springs as a self-sustained city

• Spread over 300 acres, the area is divided into 188 acres of plots, 41 acres of apartments, 22 acres of villas & row houses,20 acres of club & schools and 35 acres of commercial & retail space
• The proximity to Devanahalli Business Park and 30 min drive from Manyata Embassy Business Park gives the chance of staying in a city within the Silicon city of India
• Best of luxurious living, world class hospitals, retail spaces, renowned educational institutions and fun filled entertainment all encompassed within one master city
• With ample space dedicated to the development of schools, and Embassy’s past reputation with running two schools successfully, you can be rest assured to get the very best
• A 1,50,000 square feet, lavishly designed club house to suit your sophisticated social life
• The Karnataka Government plans on building an entertainment park called Space City on the lines of Disney Land in Devanahalli
• Some proposed hotel projects including the Oberoi, Marriott Golf Resort & Trident are in the pipeline
• The design aims to integrate the natural resources on site and compose these into a scenic landscape
• Strong emphasis with implementation of water conservation, rain water streams and  bio ponds
• The project will incorporate more species native to the region to ensure survival, ease of maintenance and to promote local biodiversity
• Lakefront Promenade; a beautifully designed water front area for unwinding and refreshing yourself after a tiring day
• Right from the kind of gravel to be used, to the different kinds of trees, landscaping,  every aspect is given importance to provide our patrons the best living experience

Brevitas Announces Collaboration With Embassy Group

Commercial real estate marketplace, Brevitas, has announced its collaboration with one of India's largest development companies, Embassy Group. The collaboration serves to further expand Brevitas' presence in one of commercial real estate's emerging markets. 

Brevitas is the leading online platform dedicated to off-market commercial properties. Membership is limited to qualified investors and brokers of commercial real estate assets from around the globe.

The agreement cements the relationship between one of the world's pre-eminent asset management and development firms with the most powerful resource for buying and selling commercial real estate privately. With an influx of activity throughout the primary American markets and Western Europe, Brevitas has seen rapid growth since launching this past September, now boasting over ten billion dollars in assets for sale. The collaboration with Embassy Group seeks to build on this growth to create new opportunities for Brevitas members.

"Working with Embassy Group gives us unheard of access to arguably the world's most important real estate market. We see it as a win-win for both sides of our marketplace. This allows us to connect our members with investment opportunities they would not otherwise have access to," said Brevitas CEO, Ardian Zagari.

The commercial real estate industry has been slow to embrace technology, therefore a vast majority of commercial assets are never sold online. This collaboration is representative of real estate's biggest players arming up and preparing to adopt new, disruptive technologies in order to gain a competitive advantage.

"The Embassy team is led by forward-thinking individuals who are always pushing the envelope - it was part of why we felt this was such a natural fit. We are giving buyers and sellers of flagship real estate assets unprecedented opportunities to connect and build relationships; our agreement with Embassy Group serves to further these relationships," explained Zagari. Details of the collaboration between the two companies are expected to be released in the coming weeks.

Embassy Group to Build Three Industrial Parks near Gurgaon

Gurgaon, India: Embassy Industrial Parks, a joint venture between property developer Embassy Group and PE firm Warburg Pincus, today signed an MoU with Haryana Government to develop three industrial parks around Gurgaon with a projected investment of Rs 1,910 crores.

The agreement for the developmental projects, which are expected to generate employment opportunities for 4,000 people, was signed at the two-day ‘Happening Haryana Global Investors Summit 2016’, which concluded here today.

The industrial parks will support the booming E-commerce as well as the retail and FMCG companies to consolidate in a post GST scenario, an official release said.

Anshul Singhal, Chief Executive Officer, Embassy Industrial Parks, commented, “We are happy to see the proactive and professional approach of the Haryana government to help private companies grow operations in the state of Haryana. Embassy Industrial Parks is confident of achieving its goals in the state with the support of the government. We promise to host world class infrastructure that will help both multinational and domestic companies set-up factory operations in the state.”

The proposed warehousing project will span the development of integrated Industrial and Logistics Parks with support facilities and also target industrial light manufacturing clients to set up build to suit manufacturing facility/ready built factories in these parks, he said.

The project will be developed on the outskirts of Gurgaon, on NH-8 or within 10 – 15 kilometers from NH-8. The state government will acquire land and provide necessary approvals for the projects, apart from providing incentives to ensure their sustainability.

Though the warehousing sector has been largely unorganized and fragmented, the demand for modern warehouse infrastructure has seen a surge in recent times. Rapid growth of retail, manufacturing and related industry segments coupled with an influx of investment will only push this sector to new heights, the release further added.

Embassy Group, Warburg Pincus to Jointly Develop Embassy Industrial Parks

Bengaluru: Embassy Group, India’s leading real estate developer has entered into an agreement with an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing to form a joint venture, Embassy Industrial Parks. 

The joint venture entity marks the Embassy Group’s entry into a new business segment focusing on the development of industrial and warehousing spaces near key cities across India. The market for modern industrial and warehousing spaces is rapidly expanding and is estimated to reach 125 million sq. ft. over the next five years.

Embassy Industrial Parks will have an equity commitment of up to USD 250 million, from its joint venture partners, to fund land acquisition and development. The business will primarily operate on the lease-rental model that the Embassy Group has successfully deployed in its commercial projects. These modern, well planned, technology-enabled industrial and warehousing spaces are targeted at industry verticals such as 3PL, e-commerce, FMCG, automobile ancillaries and retail. Warehousing in India is rapidly evolving from traditional set-ups with inefficient facilities to sophisticated solutions and modern state-of-the- art facilities.

Embassy Industrial Parks has developed a pan-India strategy and has built a dedicated team to execute its plans, making Embassy one of the few players to have a focussed all-India presence in this attractive segment of real estate.

Commenting on the formation of the joint venture, Jitu Virwani, Chairman & Managing Director, Embassy Group, said “We look forward to working closely with Warburg Pincus and leveraging their successful global experience in the industrial real estate asset class. This is an exciting new foray for the Embassy Group that allows us to move into a space that we expect to see grow tremendously - spurred by government policies, concepts like “Make in India” and the booming e-commerce industry.

It also gives me great pleasure to formally announce that Anshul Singhal has come on board as the CEO of Embassy Industrial Parks. He has a track record of consistently developing new businesses, driving innovation, aligning global joint ventures and nurturing strong client relationships that will help Embassy Industrial Parks quickly expand operations.

Viraj Sawhney, Managing Director, Warburg Pincus India Pvt Ltd said: “We believe the industrial and warehousing real estate sector in India presents strong growth potential, as companies in e-commerce and other industries seek reliable developers who can work with them nationally to meet their needs for quality warehousing infrastructure. We are excited to partner with the Embassy Group, a highly regarded real estate developer with a proven track record in leasing and timely execution of the build to suit model, and strong corporate relationships. The joint venture has assembled a dedicated, high quality team that we believe will help drive a rapid growth trajectory.”

Anshul Singhal, Chief Executive Officer, Embassy Industrial Parks, stated, “Embassy Industrial Parks is looking to build and lease 15-20 million sq. ft. over the next few years. The immediate focus will be to ensure that we take up strategic land positions near the six key markets of Mumbai, Delhi, Bangalore, Chennai, Pune and Ahmedabad. We will focus on providing our clients with spaces that are optimized to enhance supply chain efficiencies. These spaces will be developed with a host of amenities and will ensure we comply with the most exacting requirements for power, water and connectivity to distribution centres along major logistical corridors and ports.”  

Embassy Industrial Parks will offer spaces in industrial parks and help clients setup or expand their operations in India. These spaces will bridge the gap between light manufacturing units, distribution hubs, key consumers and source markets. Allowing Embassy Industrial Parks to address the distinct demand for modern industrial and warehousing spaces for the new world.