Mantri
developers, a Suresh Mantri led real estate firm plans an aggressive expansion
in the real estate market with an investment of Rs. 2000 crore in the next five
years.
Mantra
developers announced at a recently concluded Global investors meet that they
propose to invest Rs. 1750 crores across sectors which would includes
residential, hospitality and retail. A part of these investments would be
utilized for commercial developments mainly in the IT spaces, marking the
company’s expansion into the city’s office space market. Along with these plans
the company has another plan of building a theme park.
Mr. Sushil
Mantri, Chairman, Mantri Developers said that they had acquired an 80 acre land
parcel at Outer ring road and plan to make mixed use of development on it. They
expect to start the work in another one year after getting all the required
approvals. He further added that as a part of mixed development of such parcel,
he intends to build a 200 key luxury hotel at an investment of Rs. 250 crore.
He also talked about building a theme park as a use of this mixed form of
development.
Bangalore’s
real estate market hasn’t seen much real estate development in the recent two
years as builders are busy completing their previously commenced projects.
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