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Reliance Retail acquires properties for expansion

18
Jan '07
Reliance Retail, led by Mukesh Ambani, is in full swing to expand the business by spending about Rs1,000 crore in past couple of days to purchase commercial properties in Delhi.

Reliance acquired property worth Rs280 crore yesterday in Vikaspuri, sources informed. Day before yesterday, it also purchased seven properties worth Rs700 crore.

Total space of acquisition is expected to be over half a million square feet and company is expected to take part in auction today for two more properties. These properties are valued around Rs25 crore.

Last year, Reliance Retail had revealed plans to invest Rs25,000 crore for its future expansion.


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