Delta Corp East Africa (DCEAL), a 60:40 JV between Delta Corp and Reliance Industries in Kenya achieved the sale of its development namely, Delta Centre to World Bank for an amount of approximately $22.8 million (KES 1.98Bn). DCEAL has entered into a binding letter of offer for the aforesaid sale subject to final documentation to be entered into by 3rd quarter of the current calendar year.
In early 2008, DCEAL had entered the real estate development business in Kenya. It currently has developable land admeasuring approximately 1.00 million square feet at various stages of development. The said development is in the final stage of completion and will be handed over to World Bank by September 2011. This transaction establishes DCEAL as one of the leading developer in East Africa.
Besides, Delta Corp, India’s largest gaming and hospitality listed company, through its wholly owned subsidiary, has acquired a 51% equity stake in Daman Hospitality for an amount of Rs 50 crore. The resort, situated in Daman, will be a five star deluxe hotel comprising of 176 rooms, having 30,000 sq ft for indoor events and 70,000 sq ft of leisure area including out door pools and other entertainment areas. The hotel has three bars and four restaurants.
Delta Corp has been engaged in the business of textiles and real estate development/consultancy. Having started as a pure textile player, Delta Corp has transformed into a diversified company, with interests in real estate (in India as well as East Africa), gaming and entertainment, aviation, and hospitality.
| Company Name | CMP |
|---|---|
| Delta Corp | 62.01 |
| Wonderla Holidays | 526.10 |
| Imagicaaworld Enter | 47.39 |
| Nicco Parks & Resort | 75.60 |
| Hanman Fit | 4.20 |
| View more.. | |
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