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Embassy Developments Invests Rs 7,000 Cr in Mumbai Real Estate
20 Jan
Summary
- Firm to invest Rs 7,000 crore in Mumbai's real estate market.
- Three new luxury housing projects to be launched soon.
- Company expects over Rs 12,000 crore revenue from new projects.
Embassy Developments Ltd (EDL) is injecting Rs 7,000 crore into the Mumbai Metropolitan Region (MMR) to fuel its expansion. This strategic investment focuses on developing three new luxury housing projects and finalizing three existing ones, reflecting a robust outlook on current consumer demand.
New developments are slated for Juhu, Worli, and Alibaug. The Worli project, Embassy Citadel, alone aims for nearly Rs 9,000 crore in revenue from 316 units. The Juhu development targets Rs 3,000 crore from 50 units, while Alibaug expects Rs 400 crore from 111 units.
In addition to these new ventures, EDL will complete three ongoing housing projects within the MMR, which comprise approximately 5,000 units. This multi-faceted approach underscores the company's commitment to strengthening its presence in this key market.
