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Suncity Projects Ltd likely to invest Rs 10, 000 Crore in Real Estate ventures

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Indian Real Estate giant Suncity Projects Ltd is scheduling to invest a huge sum of about Rs 10,000 crore in realty ventures in the coming 4-5 years and the company is highly interested in developing projects on joint venture basis and is planning to step into the hospitality sector, said Mr. Ajay Agarwal the Director to the www.propertykhazana.com. Meantime, the company is also in consideration of offering the IPO by the end of the financial year 2009, added Mr. Agarwal.
It is reported by the sources at the www.propertykhazana.com many Indian construction and infrastructure companies are now raising the funds through the Alternative Investment Market (AIM) and IPO. Suncity Projects Ltd is jointly working with an Israel hotel group to expand its horizons into the hospitality sector. Furthermore, Suncity Projects Ltd is planning to launch 10-15 3 & 5 star hotels in Tier-2 and Tier-3 cities initially and then to step in metros. If the project is implemented on time for sure then the ongoing demand of hotel rooms will be under control.
The source also revealed at the www.propertykhazana.com that Suncity Projects Ltd is coming up with an IT SEZ in the cyber capital city Gurgaon and the proposed project is cleared by the respective government. Company is likely to approach the banks and through the PE investments to fetch the capital.
Source: NBTVLIVE

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