Arkade Developers has successfully acquired a prime land parcel in the Mumbai Metropolitan Region (MMR), thereby enhancing its development portfolio.
In a regulatory filing, the Mumbai-based real estate company revealed that it has signed a Memorandum of Understanding (MoU) to obtain 100 percent ownership in Woollen and Textile Industries. “The intended acquisition encompasses a land parcel measuring 14,363.60 square meters situated in Bhandup (West). The total value of the transaction is Rs 148 crore,” stated Arkade Developers.
This initiative represents a significant advancement for the firm, which has completed 31 projects totaling five million square feet of built-up area. Currently, it is engaged in the construction of an additional two million square feet across various ongoing projects.
Arkade Developers, recognized for its residential and commercial developments, views this acquisition as a strategic investment in one of Mumbaiās most desirable real estate corridors. Through this expansion, the company intends to further solidify its presence and generate long-term value in the competitive MMR property market.
