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Siemens to sell 12 residential apartment properties in Mumbai

16 Dec 2013 Evaluate

Siemens is all set to sell its 12 residential apartment properties in Mumbai for Rs 40 crore. The properties comprise flats at various Mumbai suburbs such as Bandra, Santacruz, Khar, Juhu, Versova, Chembur and Dadar. The size of the properties ranges from 800 to 1,700 sq ft, including 2BHKs, 3BHKs and row houses.

The company will sell the same through a close bid or auction process. In this regard, the company has appointed Real estate consultant Jones Lang Lasalle to divest these properties.

Siemens is the flagship listed company of Siemens AG in India and is a major player in the electronics and electrical engineering business. Germany’s Siemens AG holds a 75 per cent stake in the company.

 

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