Reliance Industries enters Kenya realty market

Reliance Industries has invested in Kenya realty business and having purchased land worth Rs 200 crore in Kenya for development of housing and office properties is already making profits, in association with Delta Corp. It has taken this decision, considering a big opportunity in emerging real estate in East Africa. The joint venture firm, Delta Corp East Africa had purchased ten prime plots has completed construction of at least one low-cost residential complex and one office-block project.

 

RIL Logo

RIL (Photo credit: Wikipedia)

 

The company holds 58.8% stake in JV firm and This JV firm has spend around Rs 200 crore in order to acquire 10 prime plots of land in Nairobi with a planned developable area of approximately 1.2 million square feet of commercial and residential assets.

English: I&M Bank Tower in Nairobi, Kenya

I&M Bank Tower in Nairobi, Kenya (Photo credit: Wikipedia)

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