In a bid to make the most out of the future business avenues, Bharti Realty plans to invest about Rs.3,500 crore to develop one commercial and a housing project in Delhi-NCR, Managing Director and CEO, S K Sayal said. He added that Bharti Realty currently has around 15 completed projects, having 5 million sqft of fully leased Grade-A commercial space, in Delhi-NCR and some other cities, while 1 million sqft of office building is nearing completion in Gurgaon. The player has also bagged a project from Delhi International Airport Ltd (DIAL) to develop a commercial property which will have about 2.5 million sqft of leasable area, mostly retail. The company will soon start development of this 23 acre of land parcel and targets to complete it in next four years. About the project cost, he added that this retail real estate project, one of the biggest in Delhi-NCR, will be developed with an investment of about Rs.1,500 crore. In the residential business sector, he said the company tied up with Eros Group to enter into housing sector to develop a housing project on 52 acre land at Surajkund in Haryana. In this connection, the company has already put in place all approvals to start the construction of this project. This project, comprising 2,300 units and 5 million sqft development, would be completed over the next seven years with a cost of around Rs.2,000 crore.
📅Published on:
23 January 2018
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