Sunteck Realty to spend Rs 1,000 crore for acquisition of distressed assets

Sunteck Realty to spend Rs 1,000 crore for acquisition of distressed assets

The company has already received approval for one project in Andheri which it will launch soon
In a bid to acquire distressed assets and to enter joint development agreements to increase its portfolio, Sunteck Realty is planning to spend Rs 1,000 crore in the next two years.

The company is also exploring opportunities in the redevelopment space. The company has already received approval for one project in Andheri which it will launch soon. Further, the company is looking at other opportunities in the western suburbs and island city.

Sunteck Realty primarily focuses on the development of ultra premium and luxury residential properties in city-centric locations of Mumbai. Its development activities include multi-unit apartment buildings, block re-developments, planned communities and commercial spaces.
source:ventura