DB Realty has joined hands with ECC and Konark to develop a residential project in Andheri in suburban Mumbai. ECC-DB-Konark joint venture (JV) is developing a residential project ‘DB Skypark’ near Terminal 2 of International airport in Andheri. DB Realty will have a 75% share in the project.
The project has achieved financial closure and the work has commenced for the Phase I and the entire project is expected to be completed in about three years. This approval is a positive development as the project offers substantial cash flow potential for the company in the near future.
The commencement certificate dated June 16, 2015, has been received for the said building. The total built-up area of the project is approximately 4.70 lakh square feet and is spread across 7 wings of 12 storied.
DB Realty is a real estate development company that focuses on residential, commercial, retail and other projects, such as mass housing and cluster redevelopment, in and around Mumbai.
