M.S.Ramaiah Developers and Builders (MSRDB) is planning to make an investment of Rs 3,000 crore to expand its retail and commercial real estate portfolio across Bengaluru, Goa and Andhra Pradesh.
The company is looking at doubling its retail and commercial portfolio to over eight million sq ft. from 4.5 million sq ft.
The company plans to develop three to five million sq ft of land annually and most of these projects will come up in North Bengaluru.
For 2022, MSRDB has three hospitality projects in the pipeline in Bengaluru and Coorg. Moreover, it is also building an entertainment and hospitality project close to the airport, spread over 900,000 sq ft.
The company is in talks with some of the international operators and will soon close the deals for hotels.
The company has additionally signed over 12 million sq ft of joint development and joint venture agreement with builders to expand its residential portfolio.
MSRDB, owns land bank in north Bengaluru, has tied up with TATA Realty, Birla Estates, Godrej Properties and Embassy Group amongst other large developers.