Runwal Group has been on an acquisition spree. The developer recently bought 50 acres of land in Mumbai’s suburban Dombivali from civil engineering company Gammon India for around Rs 230 crore as part of an asset monetisation plan. In 2014, the Runwal group acquired 64 acres in Dombivali for around Rs 320 crore. Runwal is planning to develop the land into an integrated township.
The Group is also set to buy over 2.7 acres land parcel of Rashtriya Metal Industries (RMI) at Andheri for a consideration about Rs 180 crore. Runwal has signed a memorandum of understanding with RMI to buy the land parcel that houses RMI’s office and factory. The company, which is present in luxury residential, townships and commercial spaces, is planning to develop this plot as a mixed-use development project.
Runwal owns and manages the largest retail mall chain in Mumbai with over 2 mn sq-ft of GLA.
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The Group is also set to buy over 2.7 acres land parcel of Rashtriya Metal Industries (RMI) at Andheri for a consideration about Rs 180 crore.
