MAN Industries, one of the leading pipe industry manufacturers, has acquired a development agreement for a prime 6-acre land parcel in Nerul, Navi Mumbai. The project is strategically located in one of the city's fastest-growing hotspots with good accessibility to the city's prime infrastructure hubs.
The company plans to construct the land into a mixed-use development project that will consist of residential and commercial properties. The move is one of the efforts by MAN Industries to diversify its business and ride on the booming real estate market in Navi Mumbai.
The project is expected to generate significant value for the stakeholders and contribute towards the urban development of the area. Further details on the investment size and project duration are to be released.
Source: Economic Times