City-based builder Arkade Developers will be investing around Rs 700 crore in three projects in the megapolis that are expected to be completed over the next three to four years.
Last week, the company received the regulatory nod to launch a Rs 430 crore initial share sale and part of the proceeds will be used for the investment.
"We have earmarked Rs 698 crore for three new projects in the city -- Arkade Nest in Mulund (West), Deep Shikhar C Unit in Goregaon (East) and Prachi in Vile Parle (East). "Phase 1 of Arkade Nest is a luxury project and is already on. Going forward, our focus is on blended model of greenfield and redevelopment. The Goregaon and Malad projects are redevelopment units," Amit Jain, Chairman and Managing Director of Arkade, said "Phase 1 of Arkade Nest is a luxury project and is already on. Going forward, our focus is on blended model of greenfield and redevelopment. The Goregaon and Malad projects are redevelopment units."
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