Embassy Group and Cornerstone Group enter into a partnership to set up a 100 acre business park near Whitefield in Bangalore
Bengaluru, India, November 9, 2015:- Embassy Group, India’s leading real estate developer has entered into an agreement with Cornerstone Group, a leading Bangalore-based property group with strong land banks across the city to develop a 100 acre land parcel in the Varthur area, near Whitefield in Bangalore. The vision is to design and develop a large integrated business park - the Embassy Cornerstone Business Park - with a potential 12 million sft of premium office space backed by world-class facilities and amenities.
This sets the foundation for the Embassy Group’s fourth business park in the city. Embassy is today the leading commercial real estate developer in the country – with flagship business parks like the Embassy GolfLinks Business Park, Embassy Manyata Business Park, Embassy TechVillage in Bangalore and Embassy TechZone in Pune. These parks host over 150 large global and Indian corporations where over 200,000 professionals work. With a diversified real estate portfolio of over 37 million sft the company is present in the commercial, residential, hospitality, retail and recently the warehousing space in the country across Bangalore, Pune & Chennai.
Commenting on this new venture, Jitu Virwani, Chairman & Managing Director, Embassy Group, said “We look forward to working with Cornerstone and leveraging a longstanding relationship to build our fourth business park in the city. This will also help us offer a stronger value proposition through additional location options to our portfolio of over 150 corporate clients – besides North Bangalore and the CBD we will now be present in the Whitefield area, a preferred destination for corporate occupiers. We look at this as a win-win partnership for both Embassy and Cornerstone.”
Cornerstone Group’s Chairman & Managing Director, Mr. B P Kumar Babu commented: “We are extremely delighted to join hands and partner with Embassy. The strategic location will also expand the Whitefield business area and help build quality international standard work places in the area. Cornerstone, with its large land-bank across Bangalore shares a deep-seated relationship with Embassy Group, a trusted and respected real estate company that offers commercial office space to some of the best-known global and Indian companies. We are positive about the future and look forward to more such strategic partnerships with Embassy Group.”
About Embassy Group
Embassy Group has a three decade long track record spanning the commercial, residential, industrial, retail and hospitality segments of the Indian real estate industry. With over 37 million sft delivered and a corporate client list of over 150 marquee global and Indian corporates that feature some of the best brands globally – Embassy has a proven track record of understanding the needs of global businesses and translating them into productive and effective workspaces. Strong corporate relationships that have grown across geographies, projects that have been delivered to exacting international standards – meeting stringent cost and timeline demands - are all testimony to the Embassy Group’s focus on driving operational advantage for its clients. At the core of the value chain lies the ability to envision and identify key development hubs and systematically plan and oversee the acquisition of key land parcels.
About Cornerstone Group:
Cornerstone Group has been in the real estate business for over 2 decades, and today is a leading property group that has partnered India’s top real estate developers in becoming a significant part of the development ecosystem. Regarded a pioneer in land holding, the company holds the distinction of being counted among the largest owners of real estate in Bengaluru with a development portfolio that will total over 15 million square feet within the next 6 years. This includes an exciting array of offerings at prime locations comprising Residences, Gated Communities, Information Technology & Commercial Developments and Integrated Townships. Cornerstone is also the first land holding firm to corporatize its business and transform into a ‘one-stop-solution-provider’ for land banking. Cornerstone’s underlying framework is rooted within the perspectives of strong knowledge driven processes, robust partnerships and deep business insight. Each endeavor is based on transparency, trust and safeguarded by the company’s high standards of professionalism and ethics .For more information, please visit www.cornerstoneindia.in
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