Embassy Developments Ltd (EDL), via its fully owned subsidiary Embassy East Business Park Pvt Ltd, has reached an agreement to sell a 25-acre land parcel in Bengaluru to semiconductor equipment manufacturer Lam Research (India) Private Limited, a global semiconductor equipment manufacturer, for Rs 1,125 crore, according to a company statement.
The 25-acre land parcel is located at Whitefield in Bengaluru. This transaction strengthens Bengaluru’s position as a global technology and innovation hub and further reinforces its appeal as a preferred destination for high-tech investments.
This engagement between Bengaluru-based EDL and Lam Research (India) reflects the growing demand for world-class commercial infrastructure that caters to the evolving needs of cutting-edge industries, the EDL said in a statement.
"We are delighted to partner with one of the world’s foremost semiconductor companies in this milestone transaction. 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 will be reinvested into high-growth opportunities, strengthening our development pipeline and delivering sustained value to our stakeholders," Aditya Virwani, Managing Director, Embassy Developments Limited, said.
With its robust infrastructure, thriving IT ecosystem, and access to a highly skilled talent pool, Whitefield continues to drive India’s emergence as a global technology powerhouse.
Embassy Developments Ltd is one of India's leading real estate developers, specializing in the construction and development of residential, commercial, and Special Economic Zone (SEZ) projects across various cities across the country.
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