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Veena Developers, a real estate developer in suburban Mumbai, plans to launch three luxury and retail projects in Kandivali, Borivali, and Andheri with a sale area of 1.4 million square feet and a revenue potential of Rs 3,500 crore.
Haresh Sanghavi, chairman of Veena Developers, said the company would invest Rs 750 crore in these projects with a timeline to complete them by 2027. “The upcoming projects are strategically aligned to cater to the luxury and semi-luxury segments with 20% space for high-end retail,” he said.
Primarily focused on the western suburbs, Veena Developers has completed multiple projects in Kandivali East and West, Vasai, Andheri and Goregaon West and has nearly five million square feet under construction in seven ongoing projects, with the first deliveries scheduled from December 2023.
“We have a diverse portfolio with society redevelopment projects in Andheri Lokhandwala, and Krishnagar, Borivali. The Malad West project is commercial while the Palghar project is in the affordable segment,” said Sanghvi.
