Landmark to invest $1 bln in 15 projects over next 3-5 years

Subscribe to Oneindia News

New Delhi, May 15 (UNI) Real estate developer Landmark Group today said it will invest about one billion dollar to develop 15 projects across the northern India in the next three-five years.

''We will invest about one billion dollar in our 12-15 projects in the next three-five years,'' Landmark Group Director Amit Chhillar told reporters on the sidelines of 'launch of company's Cyber Park' here.

The project would be funded through internal accruals and private equity.

''The fund would be generated through the internal accruals and private equity. Beginning with 25 per cent, raised to 45 per cent in our different projects,'' he added.

The company is currently running 12 projects including developing three five star hotels in the national capital region and one budget hotel in the next three years to reap the benefit of Commonwealth Games 2010.

''We will invest about Rs 300 crore for development of a five star hotel with 3,000 rooms built on an area of 12 acres in Dharuhera and another Rs 200 crore will be infused to built 500 rooms five star hotel in Bawal in Haryana,'' Mr Chhillar said.

The company also plans to invest Rs 50-60 crore in a budget hotel in Gurgaon which will have about 110 rooms.

Landmark today launched its Cyber Park in Gurgaon, which is spread across 15 lakh sq ft, with an investment of about Rs 350 crore.

''We will start the construction within the next four months and it will be ready in three years,'' Mr Chhillar said.

UNI MP PDT KN1958

Please Wait while comments are loading...