CHD Developers has acquired Empire Realtech, a company holding about 12.34 acres of land at Sector 106 in Dwarka Expressway, Gurgaon. This land is licensed and has all approvals in place. CHD Developer acquired entire shareholding of Empire Realtech, pursuant to which it has become a wholly owned subsidiary of CHD Developers Ltd.
The shares of the company have been bought by CHD for Rs. 100 crores for the development of a housing project. Ravi Saund, COO, CHD Developers said, “With this acquisition the company has strengthened its business footing in the real estate for future growth and expands its portfolio. After a year of emphasis on execution of projects and delivery, this is a big move and the coming financial year may see fructification of our efforts. Dwarka Expressway is fast becoming the next real estate destination and thus has been on our radar for growth plans.”
He added, “Our business model is skewed towards residential development and that is going to be our focus for the coming years. With innovative designs and top class infrastructure CHD Developers is constantly striving to offer their consumers the lifestyle that they have always aspired for.”
CHD Developers already has presence in Gurgaon with its project Avenue 71 on Sohna Road. Spread over 16.5 acres, this environment friendly project provides is high on facilities and amenities providing its residents a holistic living experience.
