Reliance Industries enters commercial real estate sector
Multinational conglomerate Reliance Industries (RIL) is set to foray into commercial real estate development, getting into competition with Adani Properties, Tata Realty & Infrastructure, and Shapoorji Pallonji & Co. RIL has revealed in a regulatory filing that it has formed a 100 percent subsidiary named Reliance SOU Limited to “carry on the business of development of properties for commercial use”. The Firm has invested Rs 1 lakh in the equity shares of Reliance SOU.
Another subsidiary of RIL, Model Economic Township is developing an industrial township in Jhajjar, Haryana, entailing an investment of over Rs 8,000 crore.
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