Big deals and acquisitions in Real Estate sector
Mumbai: Real Estate sector these days is in focus as we see large deals, acquisitions, and demand on a constant rise. Two Mumbai-based Real Estate companies are in focus on the same.
Sunteck Realty: The company acquired a land parcel of ~7.25 acres at Beverly Park, Mira Road under the JDA model. The project is estimated to have a development potential of ~2.5mn sq ft built-up area and a revenue potential of around Rs 3,000 crore. This is a positive for the company as it will help in its further growth and expansion. It will host the Luxurious Residential & Retail Project with plush amenities. Sunteck Realty Ltd. has been one of the largest acquirers of projects post-pandemic and has done multiple acquisitions to the tune of 25.5 mn. sq.ft.
Mumbai-based real estate organized developers would benefit from a revival in housing sales. A recent report suggests a decent price increase of up to 5% YoY amidst healthy demand. Rising homeownership amongst millennials, supported by higher disposable income and willingness to upgrade to larger spaces equipped with better amenities, has sparked a sharp growth in housing demand in the last few quarters. Demand for self-sustained properties replete with best-in-class amenities has also been increasing post-pandemic. These have led to strong growth in housing sales in the last few quarters.