Real Estate developer Embassy Group, just one of India's top three commerical space constructors, had exited an international joint venture with Malaysia's MK Land Holdings Berhad.  Embassy Group sold its 40% stake valued at around $250 million back to MK Land Holdings Berhad.

MK Land Holdings bought back the entire 40% Embassy stake. The deal provided the Embassy Group with a net gain of about US$70 million. The transaction was finalized in the last few days of June, said people who knew of the deal.

The Embassy Group is among the few Indian developers with international joint ventures in the Asean region and Eastern Europe, as markets like Serbia and Malaysia seemed to attract the global ITeS industry. Representatives of Embassy Group confirmed ending Malaysian joint venture by selling their stake in the venture back.

Recently, MKLand Holdings has concentrated on developing inexpensive homes, as part of Malaysia's initiatives to find housing for low incomes families in the country.