Embassy Developments signs a ₹1,125 crore land deal with global semiconductor equipment manufacturer Lam Research
The Hindu
Embassy Developments Ltd. partners with Lam Research for land divestment in Whitefield, reflecting demand for commercial infrastructure.
Embassy Developments Ltd. (EDL), through its wholly owned subsidiary Embassy East Business Park Pvt Ltd., has signed definitive agreements with Lam Research (India) Private Limited, a global semiconductor equipment manufacturer, to sub-lease and subsequently divest, some 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 worldclass 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.
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