Supertech, a Noida-based real estate developer, has decided to invest about Rs 750 crore in Delhi-NCR to add 25 lakh sq. ft. of property development in its retail and office portfolios.
The company has planned to develop three projects under the ownership of the companies Supernova, E square and North Eye. All the projects are located in Noida and will be listed under the real estate investment trusts by 2017 end.
Vijay Kapoor is recently appointed as the Chief Executive Officer (CEO) of retail and commercial segment of Supertech. He will be supervising the execution of all three projects where his 25 years of experience will definitely support the plan. He has earlier worked with PVR and Eros.
As of now, Supertech has delivered 30,000 units with 40 million sq. ft. of area in residential and commercial segments marking its presence in Noida, Greater Noida, Gurgaon, Ghaziabad, Meerut, Moradabad, Dehradun, Haridwar, Rudrapur and Bengaluru. The company has also completed five malls with a total built-up area about 12 lakh sq. ft.
“We are focusing majorly on retail. The market was slow, but it has picked up pace. We need to lease these malls first and then go for REITs, which will take another 6 months,” says RK Arora, CMD, Supertech.
Source: ET Realty