Embassy Developments Ltd. (EDL), through its wholly-owned subsidiary Embassy East Business Park Pvt. Ltd., has signed definitive agreements with Lam Research (India) Pvt. Ltd., a global semiconductor equipment manufacturer, to sub-lease and subsequently divest, 25 acres of land in Whitefield.
The transaction is valued at ₹1,125 crore and is subject to necessary regulatory approvals. This engagement between EDL and a global semiconductor firm reflects the growing demand for quality commercial infrastructure that caters to the evolving needs of cutting-edge industries, as per an official communique.
Aditya Virwani, Managing Director, Embassy Developments, said: “Bengaluru remains a top choice for global corporations, and this transaction reaffirms EDL’s capability to unlock value through strategic asset monetisation.”
The proceeds from this sale would be reinvested into high-growth opportunities, strengthening the realty firm’s development pipeline, he further said.
Published – March 22, 2025 12:04 am IST
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