Ahmedabad-based Radhe Developers, has zeroed in on Emerald Park, Radhe Armaan, and Olympus Mall, new residential and commercial projects worth Rs 500 crore.
The real estate and construction company had earlier announced that it would be raising funds to the tune of Rs 500 crore by various funds raising routes from domestic and international markets.
While Emerald Park is a residential project consisting of seven different types of units of 1000 square yards and 5000 square yards, Radhe Armaan, a residential colony offering 6210 apartments of 675 square feet space, located in Santej, eight kms away from Ahmedabad. Emerald Park will offer 328 farm houses, according to a release from the company.
Besides, the company plans to construct Olympus Mall with 280,000 square feet of shopping area and a hotel with 300 rooms.
The board of directors had earlier approved to raise Rs 500 crore by private placement of shares with buyers and from Global Depository Receipts (GDRs).
In the past, Radhe Developers has undertaken residential projects like Taksshila and Mandar Bungalows and commercial projects like Tulsi, Ganesh Plaza and Abhinav Arcade in Ahmedabad.
