Saturday, January 20, 2007

Reliance Retail makes major investments in Delhi realty

Business Standard reports that Reliance Retail has made purchases of close to Rs 1,000 crore on commercial properties in Delhi. According to sources, the company acquired a property in Vikaspuri from around Rs 280 crore and 7 properties, one in Rohini and 6 in Dwarka, for Rs 700 crore. The total size of the acquisition so far is over 500,000 sq ft. The company will continue its purchasing spree with 2 acquisitions coming up in Vasant Kunj, which are valued at Rs 25 crore. All properties acquired by the company were part of the Delhi Development Authority (DDA) auctions.

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