HoABL plans investment worth Rs 2,500 crore to launch 3 vertical projects in Mumbai
Real estate firm The House of Abhinandan Lodha (HoABL) plans to invest Rs 2,500 crore to enter the Mumbai real estate market. The firm plans three vertical development projects, including an American Culture Center in Marine Lines, a development overlooking Chowpatty Beach, and a Joint Development Agreement (JDA) with Mittal Builders in Naigaon.
The projects have a collective development potential of 3.1 million sq. ft., and are expected to generate a revenue of Rs 3,500 crore. As per the firm, the projects would be funded through internal accruals and debt for working capital and pre-sales.
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