Piramal Realty is planning to take over DB Realty’s Marine Drive project in Mumbai for close to Rs 1,000 crore. Piramal Realty will build a residential high-rise on the 2.2-acre plot, which is situated behind heritage buildings on Marine Drive. Earlier, DB Realty had planned a 5-star hotel on the plot that failed to go through because of legal issues involving the company’s promoters and a real estate slowdown.
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.
