MAN Infraprojects plans realty projects in Mumbai, Indore

14 June 2008

Mumbai: MAN Infraprojects Ltd, the real estate arm of pipe manufacturing company MAN Industries India, plans to  develop seven projects spread over 10 million sq ft in Mumbai and Indore, in the next three years.

In Mumbai, the company hopes to develop properties in Bandra, Andheri, Vile Parle and Navi Mumbai in Mumbai, the company said.

Man Industries, the Indian arm of UK's MAN group, plans to invest Rs1,000 crore in hospitality and township projects in Mumbai and Indore.

Man Industries, which is into pipe making, is marking its re-entry into the realty space, with its new subsidiary, MAN Infraprojects.

The Man Group had a major presence in the real estate business between 1982-1990 when it developed 50 projects. It exited the business in 1990 when it found the market less attractive.

Man Infraprojects has earmarked a Rs 500 crore investment in the first phase to develop two commercial projects at Vile Parle and Bandra in Mumbai and one mixed-use township along with a five-star hotel and an IT-cum-commercial centre in neighbouring Navi Mumbai.