NEW DELHI: Embassy Group, a commercial real estate developer, will develop Embassy Zenith, a Grade-A commercial space in Bengaluru, where the iconic Le Méridien Hotel once stood, the company said in a media release.
Mac Charles (India), previous owners of the erstwhile Le Méridien Hotel will project manage the development – Embassy Group had bought a 73.4% stake in the company in 2016.
Located along the Sankey Road, Embassy Zenith will come up on a total area of 2.27 acres and a total leasable area of approximately 5.5 lakh sq ft.
Aditya Virwani, chief operating officer, Embassy Group, said, “In the past year, we have witnessed how India’s corporate sector have had to pivot to a work-from-home culture. Despite the significant challenges caused by the Covid-19 pandemic, organizations have demonstrated a definite desire to return to formal office spaces. Therefore, we are confident that India’s commercial realty sector will witness a steady growth curve.”
The project will be designed by Andy Fisher Workshop from Singapore. The construction is likely to commence in the third quarter of the financial year 2021-22, and will be completed by December 2023.