Zuri Group Global Announces ₹1200 Crore Investment in Luxury Residential and Business Hotels
Zuri Group Global has unveiled ambitious plans to invest approximately ₹1200 crore in developing five-star business hotels and upscale residential properties over the next three years. The investment strategy will employ a 70:30 debt-equity ratio, and the company is exploring both private equity and an Initial Public Offering (IPO) as potential funding avenues.
Hotel Expansion Plans
The Bangalore-based company intends to establish three to four hotels, each featuring 150-175 rooms, in key cities across India. These locations include Pune, Ahmedabad, Kolkata, Nagpur, Delhi (NCR), and Mysore. The hotel expansion is projected to require an investment of ₹800 crore over the next three years.
Luxury Residential Project in Goa
In addition to hotels, Zuri Group Global is venturing into the luxury residential sector with a project in Goa. The organization plans to commence construction on luxury villas and apartments this year. This Goa endeavor represents a ₹400 crore investment, inclusive of land acquisition costs. Zuri has secured 300 acres of land for this development. Necessary approvals are already in place, and the villas are anticipated to be completed within 18 months of the project's commencement.