Embassy Group, India’s leading real estate developer today announced the launch of Embassy ONE, a mixed-use development that will be home to Four Seasons Hotel and Private Residences Bengaluru, as well as prime retail and commercial offices. Embassy ONE, formerly operating as CityView, is the successful outcome of a deal completed through a joint buyout of the previous promoters by the Embassy Group and Blackstone (NYSE:BX), the global asset manager.
Strategically located between the Central Business District, the International Airport and within Bengaluru’s Outer Ring Road, the 1.5 million sq. ft development is set on seven acres overlooking lush Institutional and Defence establishments. The development comprises a Four Seasons Hotel and Private Residences spread over two towers – one 30 storey tower housing the Hotel and Private Residences, and a second 30 storey tower exclusively dedicated to the Private Residences. This will be complemented by a third 13 storey towers with 235,000 sq. ft of prime commercial and retail space.
Conceived to be a true luxury destination, Embassy ONE will be a place of continual evolution and prosperity, where people from around the world will desire to live, work and visit. Embassy Group has successfully brought together some of the finest architects and designers from around the world with the goal of creating a haven of luxury in the heart of Bengaluru.
In line with the overall ethos of the development, the retail space will deliver a premium lifestyle offering, while the exclusive offices will be of an International Grade A standard. This will be the premier address for companies in Bengaluru as well as discerning travellers and real estate investors in search of the uncompromised luxury only Embassy can deliver.
The finest name in luxury hospitality, Four Seasons Hotels and Resorts has joined hands with the Embassy Group and Blackstone to create a landmark destination for lifestyle and hospitality with the city’s first international hospitality branded residences. Commenting on the acquisition, Jitu Virwani, Chairman & Managing Director, Embassy Group, said, “This announcement reinforces the Embassy Group’s continued focus on creating a portfolio of prime, mixed-use developments with a strong focus on the North Bengaluru corridor. This also extends our presence in the hospitality segment while allowing us to address the growing demand for branded private residences.”
Tuhin Parikh, Senior Managing Director, Blackstone Real Estate Group, said “We are delighted to partner with the Embassy Group in bringing Four Seasons Hotel and Private Residences to the citizens of Bengaluru. Embassy ONE will be the benchmark of luxury, sophistication and lifestyle for business, living and recreation. With this acquisition, we continue to expand our footprint in the hospitality sector across the country.”
“Four Seasons is thrilled to be working with Embassy Group and Blackstone on this important development and to be introducing the highest standard of luxury to the city” said Michael A. Crawford, President, Four Seasons Hotels and Resorts Asia Pacific. “We look to align ourselves with partners that share our vision and commitment to excellence and know we’ve found this in these two partners. Since opening our first hotel in Mumbai seven years ago, we have been keen to expand in India and we look forward to establishing Four Seasons in Bengaluru – such an exciting, vibrant and cosmopolitan city.”
This acquisition complements Embassy Group’s strong northern corridor strategy which today includes the flagship Embassy Manyata Office Park, India’s largest integrated business park, as well as existing premium residential developments Embassy Boulevard and Embassy Lake Terraces and other proposed projects including Embassy Knowledge Park and the Embassy Springs integrated township.
About the development
This is a world-class, luxury, mixed use development comprising 1.5million sq. ft. across three towers. The development will include beautiful landscaped gardens, boutique shopping, premium office space and the exceptional hotel and residential experience that can only be delivered by Four Seasons.
As the global leader and pioneer of luxury branded residential projects for more than 30 years, Four Seasons will bring to Bengaluru ultimate luxury living through its signature tone of exclusivity, imaginative design and world-class amenities. Four Seasons Private Residences Bengaluru will span 110 units across two towers. Four Seasons Hotel Bengaluru will include 230 guest rooms and suites exquisitely designed by interior design firm Yabu Pushelberg as well as vibrant dining options and amenities.
The commercial tower will provide 175,000 sq. ft. of international-specification office space. The building will feature efficient floor plates, air-conditioning and floor-to-ceiling glass offering panoramic views. Complementing the commercial space, the development will include a 60,000 sq. ft. retail area, conveniently located with comprehensive collection of exclusive names and quality brands, making it a unique shopping and dining destination in Bengaluru.
About Embassy Group
Embassy Group is one of the leading property developers in India with a track record of over 28 years in real estate development. Embassy has an extensive land bank across the country and has developed over 35 million sq ft of prime commercial, residential and retail space in India as well as Malaysia and Serbia. Embassy’s portfolio of real estate developments spans the commercial, residential, retail and hospitality segments of the real estate industry. While the commercial real estate business includes the development of business parks for the IT/ITeS sector, SEZs and corporate office space. Embassy’s ongoing residential projects include luxury apartments, villas and integrated townships. Embassy’s residential projects are also designed to obtain IGBC Green Homes gold ratings as part of the efforts towards creating sustainable developments.
More information at www.embassyindia.com
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $330 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services.
Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About Four Seasons Hotels and Resorts
Founded in 1960, Four Seasons continues to define the future of luxury hospitality with extraordinary imagination, unwavering commitment to the highest standards of quality, and the most genuine and customized service. Currently operating 93 hotels and residences in major city centres and resort destinations in 39 countries, and with more than 60 projects in development, Four Seasons consistently ranks among the world’s best hotels and most prestigious brands in reader polls, traveller reviews and industry awards.
For more information and reservations, visit fourseasons.com. For the latest news, visit press.fourseasons.com and follow @FourSeasonsPR on Twitter.