Embassy group ties up with Cornerstone to develop property

Real estate developer Embassy Group has entered into an agreement with Cornerstone Group, a leading Bengaluru-based property group, to develop a 100 acre land parcel here.

The vision is to design and develop a large integrated business park – the Embassy Cornerstone Business Park – with a potential 12 million sq ft of premium office space backed by world-class facilities and amenities, Embassy Group Chairman and MD Jitu Virwani said in a statement here.

With a diversified real estate portfolio of over 37 million sq ft the company is present in the commercial, residential, hospitality, retail and recently, the warehousing space in the country across Bengaluru, Pune and Chennai, Cornerstone Group Chairman and Managing Director B P Kumar Babu said.

The business parks host over 150 large global and Indian corporations where over 200,000 professionals work, Virwani said.