Sunteck Realty Ltd. is looking to invest heavily in distressed assets in Mumbai
“There are a number of projects where construction has been halted midway due to financial reasons or regulatory reasons. In addition there are opportunities for joint development ventures in metropolitans where land parcels can be utilized for development.”
- Kamal Khetan Managing Director Sunteck India
Mumbai based real estate titan ‘Sunteck Realty Limited’ is planning to invest Rupees 1,000 crore over the next two years in distressed residential assets in a bid to broaden the company’s development portfolio. Mr. Kamal Khetan real estate mogul and founder of Sunteck Realty India has, discovered the opportunity for expansion by investing distressed assets that may otherwise be static and through the entry of joint development agreements with a number of struggling property developers in Mumbai.
The initiative is aimed at aiding struggling builders and developers in Mumbai currently engaged in constant search of a solution to a problem or a strategy to pursue an opportunity. The group is targeting land parcels and projects in the city that have been stranded for various reasons.
As a leading real estate developers in Mumbai the group will launch or re-launch these distressed residential projects under the brand ‘Sunteck’. The company portfolio currently boasts 24 projects and 4 rented assets spread across an area of 24,000,000 sq ft. and with an outstanding 15 years of experience in the industry, Kamal Khetan plans to greatly widen the scope of Sunteck India’s development portfolio by acquiring these distressed assets.
The group best known for its premium properties in Mumbai is looking to transform these distressed assets into premium offerings with state-of-the-art amenities. Currently heavily focused on expansion, Kamal Khetan is constantly looking for brand new ideas and innovations that will equip Sunteck India Limited with an added edge.
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