Embassy Developments Signs Landmark Deal with Lam Research
21 Mar 2025
2 Min Read
CW Team
Embassy Developments Ltd. (EDL), through its wholly owned subsidiary Embassy East Business Park, has signed definitive agreements with Lam Research (India), a leading global semiconductor equipment manufacturer, to sub-lease and subsequently divest, upon receipt of required regulatory approvals, ~25 acres in Whitefield, Bengaluru. The transaction is valued at Rs 11.25 billion.
This landmark transaction strengthens Bengaluru鈥檚 position as a global technology and innovation hub and further reinforces its appeal as a preferred destination for high-tech investments. This engagement between EDL and a global semiconductor bellwether reflects the growing demand for worldclass commercial infrastructure that caters to the evolving needs of cutting-edge industries.
Aditya Virwani, Managing Director, Embassy Developments Ltd., said, ""We are delighted to partner with one of the world鈥檚 foremost semiconductor companies in this milestone transaction. Bengaluru remains a top choice for global corporations, and this transaction reaffirms EDL鈥檚 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.""
With its robust infrastructure, thriving IT ecosystem, and access to a highly skilled talent pool, Whitefield continues to drive India鈥檚 emergence as a global technology powerhouse.
The transaction is subject to necessary regulatory approvals.
Embassy Developments Ltd. (EDL), through its wholly owned subsidiary Embassy East Business Park, has signed definitive agreements with Lam Research (India), a leading global semiconductor equipment manufacturer, to sub-lease and subsequently divest, upon receipt of required regulatory approvals, ~25 acres in Whitefield, Bengaluru. The transaction is valued at Rs 11.25 billion.This landmark transaction strengthens Bengaluru鈥檚 position as a global technology and innovation hub and further reinforces its appeal as a preferred destination for high-tech investments. This engagement between EDL and a global semiconductor bellwether reflects the growing demand for worldclass commercial infrastructure that caters to the evolving needs of cutting-edge industries.Aditya Virwani, Managing Director, Embassy Developments Ltd., said, We are delighted to partner with one of the world鈥檚 foremost semiconductor companies in this milestone transaction. Bengaluru remains a top choice for global corporations, and this transaction reaffirms EDL鈥檚 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.With its robust infrastructure, thriving IT ecosystem, and access to a highly skilled talent pool, Whitefield continues to drive India鈥檚 emergence as a global technology powerhouse.The transaction is subject to necessary regulatory approvals.
Next Story
HCL-Foxconn to invest Rs 37 billion in chip plant near Jewar airport
The Union Cabinet has approved the establishment of a new semiconductor unit near Jewar airport in Uttar Pradesh under the India Semiconductor Mission. This sixth plant, a joint venture between HCL and Foxconn, marks further progress in India鈥檚 semiconductor journey. The project will see an investment of Rs 37 billion.The facility will produce display driver chips for mobile phones, laptops, automobiles, PCs, and other digital devices. It is designed for a monthly capacity of 20,000 wafers and an output of 36 million units.Five semiconductor units are already in advanced stages of constructi..
Next Story
Brigade acquires Velachery land for Rs 16-billion project
Brigade Enterprises has acquired a 5.41-acre land parcel on Velachery Road, Chennai, through an outright purchase for Rs 4.417 billion. Located next to Phoenix Market City, the site will be developed into a premium residential project with a gross development value of approximately Rs 16 billion and a development potential of 0.8 million square feet.The project offers strategic access to both the OMR IT Corridor and Chennai鈥檚 Central Business District, promising strong connectivity and premium lifestyle offerings. Brigade plans to create signature residences focused on aesthetics, functional..
Next Story
Liebherr marks 10,000th XPower wheel loader milestone
Liebherr-Werk Bischofshofen has rolled out its 10,000th XPower wheel loader, marking a major production milestone. The anniversary L 580 XPower model, featuring a power-split travel drive developed with ZF Friedrichshafen AG, was handed over to the BERGER Group in Passau.鈥淭he transmission from our partner ZF is a key component of the drivetrain in our XPower wheel loaders,鈥� said Gerhard Pirnbacher, Head of Quality Management at Liebherr. 鈥淲ith an impressive total of around 64 million operating hours already clocked up by XPower models, this transmission has proven its exceptional robustn..
