Business Standard

Sunteck Realty to build commercial, retail properties with Rs 5,000 cr investment over 4 yrs


Press Trust of India New Delhi
Mumbai-based luxury real estate development company Sunteck Realty Wednesday said it is gearing to create a portfolio of commercial and retail properties with an investment of Rs 5,000 crore over the next four years.
"Sunteck is now focussing on building a premium commercial and retail portfolio of 3 million sq ft (approximately) in Oshiwara District Centre (ODC), about 1.5-2 million sq ft in and around BKC, and around 1 million sq ft in Naigaon - a total of over 6 million sq ft," it said in a BSE filing.
The company already caters to residential segment at Bandra Kurla Complex (BKC), ODC and Naigaon.
"Sunteck Realty is gearing to create a large portfolio with an investment of Rs 5,000 crore in commercial and retail properties over the next 4 years," the filing said.
It added that the company is exploring opportunities in the western suburbs of Mumbai to grow this retail and commercial portfolio.
"The value that Sunteck would create through its commercial and retail portfolio is close to USD 2 billion," it said.
This will further strengthen cash flows and accelerate the growth of the company, it added.

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First Published: Jun 26 2019 | 9:55 PM IST

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