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Old 29-05-07   #1
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Thumbs up Unitech to invest Rs 25,000 cr for developing property

Enthused by three fold growth in the top-line, India's largest listed realty firm Unitech Ltd will invest a whopping Rs 25,000 crore over the next four years for the development of commercial, retail, hospitality and residential properties.

We will invest about Rs 25,000 crore in the next four years to develop residential, commercial, retail properties and build hotels said the Unitech Managing Director Sanjay Chandra.
Giving break ups for the investment, he said, Rs 10,000 crore would be invested in hospitality and building huge shopping malls, while Rs 5,000 crore would be invested in developing office space and about 9,000 crore in residential properties.
Chandra said the company was expanding in hotel business and would set up 28 hotels. The construction work of four hotels has already started.
The hotels would be set up at the markets where the company is already operating such as national capital region, Kolkata, Chennai and Hyderabad.
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