Sunday 29 December 2013

Kanakia Group to invest Rs. 500 crores in residential, hotel properties

Kanakia Group to invest Rs. 500 crores in residential, hotel properties

Kanakia Group plans to invest more than Rs 500 crores over the next two years for developing residential and hotel properties.

With a portfolio of over 13 million square feet across categories including residential, commercial and hospitality, the company current has 13 lakh sq.ft under development in residential space and 15 lakh sq.ft in commercial segment.

It has two hotels in its portfolio with Novotel (Ahmedabad) and Courtyard Mariott (Mumbai).

Company has land parcels in Panvel and Virar and plans to expand its presence in the region by buying additional land parcels.

In hospitality business, it is currently developing a 150-room hotel Hyatt Palace in Goa with investment of over Rs. 150 crore.

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