Embassy Group signs MoU with BMRCL for Bettahalasur Metro Station
By M4G Bureau - September 10, 2020
As a part of contract, Embassy Group will be entitled to utilize 1,000 sq feet of wall space in the station premises for branding and advertising activities
Real estate company, Embassy Group has signed a memorandum of understanding (MoU) with Bangalore Metro Rail Corporation (BMRCL) for the construction of Bettahalasur Metro Station with an investment of Rs 140 crore. The station will be part of BMRCL's proposed new line ORR-Airport Metro that will connect the city to the Kempegowda International Airport.
As part of the MoU, Embassy Group has authority to carry out interior design, fittings and other facilities at the metro station in consultation with BMRCL with an investment of approximately Rs 7 crore. The MoU states an initial concession period of 30 years from the date of commencement of commercial operations.
The real estate group has been entitled to utilize 1,000 sq feet of wall space in the station premises for branding and advertising activities and an exclusive 3,000 sq ft area for commercial development that may include retail stores, food, beverage and other kiosks as a part of the contract.
The proposed metro station will be a landmark station considering its location between Bagalur Cross and Trumpet Junction at Bettahalasur. This new line helps connect the IT hub with the airport for rapid transit.
“This metro station will ease the traffic situation on the Outer Ring Road, leading to the International Airport. We are very happy to associate with BMRCL for this second metro project and look forward to continue supporting the creation of world-class public transportation in Bengaluru,” said Aditya Virwani, chief operating officer, Embassy Group.