Reliance Industries enters commercial real estate business

NEW DELHI: Reliance Industries has entered in the commercial real estate business.

“The company has incorporated a wholly owned subsidiary named Reliance SOU (RSOUL) to carry on, inter alia, the business of development of properties for commercial use,” it said in a BSE filing.

It has invested Rs 1,00,000 in the equity shares of RSOUL.

It already has another company developing industrial, residential and commercial township in Jhajjar, Haryana in the name of Model Economic Township, which is a subsidiary of Reliance Ventures, which in turn is a wholly-owned-subsidiary of Reliance Industries.