M&A
Arkade Developers to acquire factory land in Mumbai’s Bhandup for Rs.148-Cr
BSE Announcement Business Line
Mumbai-based realtor Arkade Developers Ltd is to acquire 100% shareholding in Woollen and Textile Industries Ltd for INR 148 crore.The deal includes a 14,363.60-square-metre land located in Northeast Mumbai suburb Bhandup. It adds to Arkade’s existing portfolio that includes Arkade Earth in Kanjurmarg spanning 4 acres, Arkade Nest in Mulund covering 2 acres, and Arkade Rare in Bhandup spread across 3 acres. The company also entered the adjacent realty market of Thane recently with a 6.28-acre land acquisition.Founded in 1986, Arkade has completed 31 projects and developed over 5.5 million square feet of property, with an additional 2+ million square feet currently under construction.
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