Merlin Group's Rs 10,000 Crore Investment in Bengal's Real Estate Sector
Merlin Group is set to invest Rs 10,000 crore in Bengal over the next 7-8 years, focusing on township development, real estate, retail, hospitality, and healthcare.
Real EstateInvestmentMerlin GroupBengalTownship DevelopmentReal EstateOct 28, 2024
Managing director Saket Mohta stated that the group holds a significant land bank of 200 acres across Bengal, which will be utilized for various projects in the coming years. To date, Merlin Group has developed 30 million square feet (3 crore square feet) in the state and an additional 10 million square feet (1 crore square feet) in other parts of India. The company currently generates an annual revenue of Rs 1,500 crore, with a target to increase this to Rs 2,600 crore in the near future.
Frequently Asked Questions
How much is Merlin Group planning to invest in Bengal's real estate sector?
Merlin Group is planning to invest Rs 10,000 crore in Bengal's real estate sector over the next 7-8 years.
What are the key sectors Merlin Group will focus on in Bengal?
The key sectors Merlin Group will focus on in Bengal include township development, residential and commercial real estate, retail, hospitality, and healthcare.
How much land bank does Merlin Group hold in Bengal?
Merlin Group holds a land bank of 200 acres across Bengal.
What new retail projects is Merlin Group planning in Kolkata?
Merlin Group is planning two new malls under the Acropolis brand: Acropolis South in Behala and another mall in North Kolkata along BT Road.
What is Merlin Group's expansion plan beyond Bengal?
Merlin Group is focusing on expanding into Maharashtra, with four projects in Pune and plans to enter Navi Mumbai in the next 1-1.5 years.
Related News Articles
Chennai Real Estate Market Witnesses Mixed Performance in Q1 2024
Chennai's real estate market saw a 28% increase in new project registrations in Q1 2024, but sales dropped by 44%. South Chennai led the way in new project launches.
Mumbai on High Alert: Terror Threat Prompts Security Boost Ahead of Festive Season
Mumbai police heighten security measures in crowded areas following central agencies' terror threat warning. Temples and public spaces put on high alert.
Germany's Property Market Shows Signs of Recovery but Industry Remains Cautious
Despite a slight increase in property transactions, Germany's real estate market is still navigating through a challenging economic landscape.
Final Notifications Issued to Enforce Fire Safety in Vulnerable Buildings
The Maharashtra Fire Prevention and Life Safety Measures Act, 2006, has led to the issuance of final notifications to enforce stringent fire safety norms, particularly for vulnerable buildings. This move aims to enhance the safety and security of resident
Prestige Estates Secures Prime Mumbai Land for Rs 291.6 Cr Housing Project
Prestige Estates, a leading real estate developer, has acquired a strategic land parcel in Mumbai for a substantial sum of Rs 291.6 crore. This move is set to fuel the company's ambitious housing project in one of India's most dynamic urban centers.
Navigating the Volatile Real Estate Market: Barbara Corcoran’s Insights
Shark Tank star Barbara Corcoran shares her expertise on the unpredictable nature of the real estate market, discussing the impact of rising interest rates and offering valuable advice for buyers and investors.