The real estate powerhouse Runwal Group has entered the commercial real estate development market with a plan to build over 10.5 million square feet of office space for an initial investment of Rs 45 billion over the following four years, including the purchase of land.
In phases, the company will build three commercial real estate developments in Viman Nagar in Pune, as well as in Kanjurmarg and Dombivli in Mumbai. Over 1 million square feet of these have already seen construction in the projects Runwal Commerz in Kanjurmarg and Runwal Edge in Dombivli.
In order to finance these developments, Runwal Group intends to use a combination of internal accruals and debt. The mixed-use complexes that incorporate upscale residential projects, sizable open green areas, and retail elements will include these campus-style developments.
After a successful run in the residential and retail sectors, we are now venturing into the commercial sector. The connectivity of the entire region is substantially changing as a result of the infrastructural development in and around Mumbai. These upmarket office spaces will serve companies in Mumbai and its neighbouring business hubs of Navi Mumbai, Thane, and Kalyan.
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