Runwal Enterprises acquires 200 acres in Alibaug

Mumbai-based real estate developer Runwal Enterprises has acquired a 200-acre land parcel in Alibaug, near Mumbai, for an integrated township project with a gross development value of approximately INR 20,000 crore. The land acquisition was structured with an upfront payment and a space-sharing arrangement with the landowner, a privately held company.The proposed project is an integrated township under the Maharashtra Regional and Town Planning Act, 1966. It will include residential and commercial spaces, a five-star hotel, and a golf course, encompassing a total development potential of approximately 20 million sq ft. The execution is planned over seven years. The firm also plans to invest around INR 9,000 crore in this venture.