South Asian Real Estate homes aims to develop 40 mn sq ft in next 5 yrs

NEW DELHI: Delhi-based South Asian Real Estate Homes (SARE) today said it plans to develop 40 million square feet of land across the country in the next five years.

The company, which is promoted by UK-based Duet Group, said the most of the development would take place in the major cities in the country.

"We are looking at developing an additional 40 million square feet over the next five years. We are focusing on seven major cities in the country," SARE Homes Chief Operating Officer Vineet Relia told reporters here.

He, however, did not elaborate any financial details. Currently, the company has invested in eight projects n Gurgaon, Ghaziabad, Navi Mumbai, Chennai, Amritsar and Indore, representing around 36.5 million square feet, the company said.

"In the near future, we plan to launch projects in Navi Mumbai and are looking to acquire land parcels on the growth corridors of large cities in India," SARE Homes Executive Director David Walker said.

The company today also announced the launch of 'Green Parc II', the fourth phase of its 65-acre integrated township in Gurgaon.