MAN Group to invest in luxury realty sector

June 13th, 2008 - 10:59 pm ICT by IANS  

New Delhi, June 13 (IANS) MAN Infraprojects, subsidiary of Britain-based MAN Group, Friday announced plans to invest Rs.10 billion in seven realty projects in the country over the next three years. The company plans projects in Mumbai, Navi Mumbai and Indore, with a total built-up area of 10 million square feet and once completed would be worth over Rs.40 billion.

“Our endeavour would be to target customers who love leading five-star life at all times,” says Nikhil Mansukhani, director of MAN Infraprojects Ltd.

“That would be the overriding theme in all our projects - be it residential or commercial. Initially, we would like to focus on Mumbai, Navi Mumbai and Indore.”

In phase-I, the company plans to develop three projects - two in Mumbai and one in Navi Mumbai - with a built-up area of over one million square feet.

In Mumbai, the company is planning two commercial projects in Bandra and Vile Parle.

In Navi Mumbai, MAN Infraprojects Ltd will develop a mixed-use township complete with a five-star hotel, a IT-cum-commercial centre besides a luxury residential block.

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