Realty firm to invest Rs 730 cr in state

New Delhi, September 7

Punjab-based realty firm SBP Group has signed agreements with the state government to invest Rs 730 crore for developing housing and commercial projects in the hilly state.

The group has signed memorandums of understanding (MoUs) with the government to invest Rs 730 crore in the Himalayan state, the realty firm said in a statement. The MoUs were signed during the investors’ meet held recently in Chandigarh, it added.

As per the MoUs, the group will invest Rs 630 crore for building residential projects in Mandi, Solan and Shimla; and another Rs 100 crore for a resort/hotel with 120 rooms in Shimla, the statement said.

MD Aman Singla and VP Raman Singla said the company was expanding its presence in Himachal after establishing a strong customer base with multiple projects in Punjab.

SBP Group has delivered around 12 residential projects across Punjab and is currently developing many more. — PTI