Diversifying into commercial real estate, Hyderabad-based Aparna Constructions and Enterprises has recently entered retail real estate sector to beat the slowdown in residential segment. The construction major plans to develop over five million sq.ft of office space and around a million sq.ft of retail projects across Andhra Pradesh and Telangana to drive growth by investing a staggering sum worth ₹1,700 crore. It is predominantly a residential development company, but has diversified vertically and horizontally to grow its business as the real estate market has suffered both from policy reforms and political turmoil, said director, Aparna Constructions, Rakesh Reddy, adding that the firm plans to build malls upward of 100,000 sq.ft, the first commercial project coming up in Hyderabd will be spread over 500,000 sq.ft. Aparna Constructions and Enterprises has 10 million sq.ft of residential projects under development with an additional 15 million sq.ft in the planning and development stages
📅Published on:
08 December 2018
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