Adani on Fast Track with new Project Launches
Adani Group seems like it’s launching projects in a hurry, with talk of so many projects in the pipeline, just waiting to be launched.
On the day of the election results, after Modi came out victorious, Adani Group announced their Rs 4,400-crore acquisition of the Dhamra port. Only a week after this announcement, Adani Realty, the real estate arm of Adani Group, announced the launch of a luxury residential project in the luxurious Four Bungalows area in Mumbai.
The project will comprise three towers of 29 storeys each, developed across a 2-acre land that the group bought from HDIL in early 2012 for Rs 900 crore.
Adani Group has over 1,000 acres of land ready for developing projects. While the saleable value of all of their real estate projects combined could come up to Rs 10,000 crore.
Monte South in Mumbai, Oyster Grande in Gurgaon, and Shantigram and Pratham in Ahmedabad are among the many of Adani Group’s projects waiting to be unleashed. While Monte South is a luxury project being developed jointly with Marathon, Oyster Grande is a 700-apartment project launched one and a half years ago in Gurgaon. Pratham is an affordable housing project and Shantigram is a 600-acre township.
Adanis are proving that, while they diversify into numerous ventures, real estate is certainly a serious business for them. It’s been 10 years since Adani is investing in real estate. Doesn’t look like the trend is going to be stop anytime soon.
Source: Business Standard
Adani Group, Adani Group announced their Rs 4400-crore acquisition, investing in real estate, Real estate projects
