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Realty firm Embassy Developments on Tuesday said it will invest Rs 7,000 crore in the Mumbai property market to build three new luxury housing projects and complete three ongoing properties as part of its strategy to expand business amid strong consumer demand. Embassy Developments Ltd (EDL) will soon launch three projects at Juhu, Worli and Alibaug in the Mumbai Metropolitan Region (MMR). EDL, erstwhile Indiabulls Real Estate Ltd, is listed on stock exchanges as one of the leading real estate companies in the country. Bengaluru-based Embassy Group also has two other listed firms -- WeWork India and Embassy Office Parks REIT. "We are ready for the next chapter of growth in Mumbai," EDL Chairman Jitu Virwani told reporters here. He said the housing demand continues to be strong. "Mumbai is an important market for us. We will be investing Rs 7,000 crore in MMR," EDL Managing Director Aditya Virwani told reporters here. He said the investments will be focused on completing the thre
Realty firm CCI Projects will invest around Rs 700 crore to develop a luxury housing tower in the Mumbai Metropolitan Region (MMR). In a statement on Monday, the company said it has launched 'Skyleap', a 53-storey premium residential tower, comprising 320 apartments. The upcoming tower is part of a 6-acre gated community, 'Rivali Park 2', along the Western Express Highway in Borivali. The project will be developed at an investment of Rs 700 crore, and the company expects to generate a revenue of over Rs 1,250 crore. Mumbai-based CCI Projects Pvt Ltd, established in 2000, has already delivered over 8 towers to date. It has an under-construction portfolio of around 35 lakh sq ft.