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JP Morgan to take 1.1 mn sq ft office space on lease from Embassy group

Press Trust of India  |  New Delhi 

Realty firm today said it has signed an agreement with global firm to provide on lease 1.1 million sq ft premium office space in its project at

is the country's leading commercial with over 30 million sq ft of completed assets and another 20 million sq ft under various stages of development.

The Bengaluru-based developer, in a statement, said that it has signed a long-term lease deal with for commercial office space at project.

"Embassy shall develop a 1,100,000 sq. feet built-to-suit facility in phases, with the first phase expected to be delivered by the first quarter of 2021," it added.

Spread over 103 acres, is an integrated LEED platinum-rated business park with commercial, retail, hospitality spaces and is located on the Outer Ring Road, the heart of Bengaluru's IT corridor.

Jitu Virwani, CMD of Embassy Group, said: "This transaction reaffirms Embassy group's position as a preferred partner for top Indian and multinational corporates. We look forward to delivering a best-in-class campus for over the next few years."

Kalpana Morparia, CEO, South and Southeast Asia, JP Morgan, said: "is a critical for JP Morgan. Relocating to will help us consolidate most of our offices in to one location."

The Embassy TechVillage project will also have a 500-room that features a and a Inn Embassy which has an extensive across the country and has developed over 45 million sq feet of prime commercial, in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 08 2018. 17:50 IST