Embassy Developments Ltd has signed a non-binding Memorandum of Understanding (MoU) with the Uttar Pradesh Government under the Invest UP framework for a proposed large-scale commercial development in Lucknow.
The proposed project envisages the development of 2.5 million to 3 million sq. ft. of commercial real estate with an estimated investment of ₹1,500 crore.
Focus on commercial growth
Embassy said Uttar Pradesh is emerging as a key growth destination, supported by rapid infrastructure development, an improving business environment and policy initiatives aimed at attracting enterprises and Global Capability Centres (GCCs).
Lucknow, in particular, is witnessing growing interest from businesses and has the potential to evolve into a major commercial hub in the next phase of India’s office-led growth.
Management comment
“At Embassy, high-quality commercial real estate is a catalyst for economic development, investment attraction and large-scale job creation,” said Embassy Group, Chairman, Jitendra Virwani.
“Through this proposed development, we aim to bring our experience in building institutional-grade business ecosystems to Uttar Pradesh and support the state’s vision of creating world-class infrastructure for businesses, talent and communities,” he added.
Expansion strategy
The proposed project is in line with Embassy Developments’ strategy of expanding its commercial real estate footprint in high-growth markets across India.
The company expects the development to contribute to employment generation, attract investments and strengthen Lucknow’s position as an emerging business destination.