EMBASSY LUCKNOW BUSINESS PARK (INVEST UP) — New Project Coming Up in Lucknow
Embassy Group's Strategic Entry into Lucknow
Embassy Developments Limited has signed a non-binding Memorandum of Understanding with the Government of Uttar Pradesh for a proposed premium commercial development in Lucknow, marking the company's entry into the state's office real estate market. The MoU was signed in Bengaluru in the presence of Uttar Pradesh Chief Minister Yogi Adityanath and senior state officials.
Project Scope and Investment
The indicative proposal under the Invest UP framework envisages 2.5 to 3.0 million square feet of office-led commercial space with an investment of about 1,500 crore rupees.
The indicative proposal covers premium office-led commercial development and is expected to generate large-scale employment while attracting enterprises and global capability centres to Lucknow.
Lucknow's Growing Commercial Landscape
The Lucknow Metro's operational North-South and East-West corridors have fundamentally changed accessibility across the city. Every commercial pocket near a metro station has seen a measurable uptick in footfall and tenant demand. The Purvanchal Expressway and Lucknow-Agra Expressway have improved logistics connectivity for businesses that need to service wider UP markets.
Select areas like Gomti Nagar Extension, Amar Shaheed Path, and Sushant Golf City seeing appreciation of 15–20%. The broader Lucknow market has recorded a compound annual growth rate of 9–11% in several key zones between 2020 and 2024.
Embassy Group's Track Record
Founded in 1993, Embassy's operations now span 22+ cities, including Bengaluru, Mumbai, Delhi NCR, Chennai, and Pune, amongst others. The company has successfully developed over 54 million square feet of commercial, residential, retail, hospitality, services, educational, and industrial warehouse spaces.
As pioneers in office space leasing, Embassy has delivered over 41 million sqft of commercial space and has another 72 million sq ft under development. Since 2012, their partnership with Blackstone has given birth to Embassy Office Parks with iconic projects like Embassy Golf Links and Embassy TechVillage housing global companies.
Strategic Context for the Investment
The company said the project is part of its strategy to expand into new growth markets. Lucknow has the potential to develop into a strong commercial hub for the next phase of India's office-led growth.
The Invest UP framework is Uttar Pradesh's investment promotion mechanism, and the MoU represents an important step in Embassy Developments' proposed entry into the state's commercial real estate market.