Oberoi Realty has entered into a Memorandum of Understanding (MoU) dated May 23, 2023 with NRB Bearings (NRB) for acquiring the land admeasuring around 25,700 square meters (around 6.4 acres) located at Pokhran Road 2, Thane, Maharashtra, together with structures thereon.
The said acquisition shall be completed upon fulfilment of certain terms and conditions of the MoU. The company has also made payment of part consideration amount to NRB, and the balance consideration shall be paid on and/ or before the closing of the transaction.
Oberoi Realty is engaged in construction and real estate development, and hospitality. The company’s segments include real estate and hospitality.
