NEW DELHI: Emami Realty, the real estate arm of Emami Group, plans to invest Rs 130 crore to develop a commercial project-Emami Business Bay in Salt Lake City, Sector V, Kolkata, the company said in a media release.
Nitesh Kumar, MD & CEO of Emami Realty said, “We are about to launch a business project at Salt Lake City in Kolkata. The total project cost will be approx. Rs 130 crore. With the pace of corporate vaccination drive picking up the speed, we expect the resumption of normal office operations getting regularized in the city thus shooting up the demand for office space market, especially the smaller ones.”
“In the last few months we have witnessed an increase in enquiries for office space from IT and fintech companies, especially in the Salt Lake, Sector V area of Kolkata. We are also seeing increased demand from many big companies as we settle into a post-pandemic world,” he added.
The company had recently announced that it will develop a 40-acre township at Bhasa, near Joka in Kolkata at an estimated project cost of Rs 300 crore.