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Sobha Developers to invest Rs 2,200 crore

Sobha Developers plans to invest Rs 2200 crore for developing about 12 million square feet of commercial and residential space during fiscal 2008-09. It sees this as an opportunity for the company to rapidly move ahead in the Indian real estate industry.

Of the 12 million square feet, 4 million will be commercial, which will include hospitality and retail. The proposed development will cover 5-6 cities, mainly in south India and the project will be funded through customer advance, internal accruals and debt. The Bangalore-based real estate company complete is expecting to complete the smaller projects in 2-3 years and the larger ones in 4-5 years.

News Published Under:   Bangalore, Real Estate India | No Comments »

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