Reliance MET City Witness Growth of 60 % In 2023-24

BY Realty Plus

Model Economic Township Limited (MET City), a 100% subsidiary of Reliance Industries Limited, witnessed a remarkable growth of 60% in the completed fiscal year of 2023-24. The total number of plots booked in the financial year were 1079 across all segments, resulting in achieving a total booking value of INR 1913 crore for the financial year, which is almost 60% higher than the previous financial year.

The above growth demonstrated impressive performance achieving significant milestones as highlighted. Industrial Segment saw growth in plot bookings by 93%, reaching a booking value of Rs. 896 Crore in FY24, compared to Rs. 468 Crore in FY23. Prices also saw an increase of 24% compared to last year.

Residential Segment plots witnessed remarkable growth with 70% increase reaching a booking value of Rs. 1004 Crore in FY24, compared to Rs. 620 Crore in FY23. Price has gone higher by 70% compared to last year.

MET City also witnessed the groundbreaking of India’s first 100% FDI in defence manufacturing by SAAB of Sweden. The facility will manufacture world class Carl Gustaf Weapon system for Indian armed forces. Apart from signing SAAB, company also signed up key players like Sanko Gosei (Japan), Svam Toyal (Japan), NeoPearl (Switzerland), Shilla C&T(Korea) and Jway (Korea), Indiamo (Belgium), ERDA, Mark Exhaust & Dhoot Transmission (India).

Additionally, Reliance MET City has secured agreements for the establishment of a hospital and a school, further enhancing its offerings and amenities and making it one of the fastest growing integrated business city of India.

MET City added Beumer from Germany as a new company bringing the total number of companies to more than 540 from 10 different countries.

Goyal, CEO & WTD of MET City, after declaring the results, said, “With its Plug-n-Play infrastructure, IGBC Platinum rated certification and companies hailing from 10 different countries, MET City has emerged as a premier business destination of India attracting investments from diverse sectors. It is a pioneering project in sustainable development with over Rs. 8,000 Crore investment already committed. With its fundamentals strong and an excellent cross functional team in place, MET City is seeing tremendous growth year on year and the momentum is likely to continue with more ambitious projects and numbers coming in future.”

As one of the rapidly expanding business hubs in North India, it stands out as a preferred destination for industries across sectors like defence, engineering, electronics, auto components, medical devices FMCG, footwear, plastics, consumer products, and many others. It is also emerging as one of the largest projects for employment generation in India. The consistent growth in employment figures reflects the city's dynamic role in shaping the economic landscape of the region with more than 40,000 people working in various operational companies at the city.

It stands as the sole Japan Industrial Township (JIT) in Haryana, comprising of 6 Japanese companies from electronics to auto-components to medical devices. The project also has 6 companies from South Korea and multiple companies from Europe. 

MET City has also received several prestigious awards in its journey of development. These accolades highlight MET City's dedication to sustainable and integrated urban development as well as its commitment towards community.

Company is also dedicated to community development and skill training initiatives. In collaboration with Reliance Foundation, it regularly organizes health camps and skill training programs. Additionally, it has established training centres to cultivate a skilled workforce and offer educational coaching to local children. MET City’s ongoing efforts aim to position Jhajjar as one of Haryana's fastest-growing economic destinations.

Model Economic Township Limited (MET City), a 100% subsidiary of Reliance Industries Ltd, today stands as an epitome of excellence, crafting a state-of-the-art Integrated Business City sprawled across 8,250 acres in Jhajjar district near Gurugram, Haryana. This visionary endeavor has attracted more than 540+ national and international corporations, solidifying its status as a premier business hub and a world class integrated greenfield Smart City of India.

Backed by top-notch plug-and-play infrastructure, MET City boasts a strategic location with unrivalled connectivity to the Delhi National Capital Region (NCR). The completed trunk infrastructure includes a 220 kV substation, cutting-edge water treatment facilities, an extensive water distribution network, well-planned road networks, and meticulous landscaping. This unwavering commitment to quality has propelled MET City into one of India's largest Indian Green Building Council Platinum Rated Greenfield Smart Cities.

With an infrastructure that adheres to global benchmarks, Reliance MET City provides a distinctive "Walk to Work" advantage, elevating its attractiveness for astute businesses and professionals. More than just a location, MET City represents a dynamic ecosystem that actively shapes the course of sustainable urban development and lays the groundwork for global business excellence in the future.

Tags : Reliance MET City Japan Industrial Township sustainable