Lohia Global to foray into real estate biz as housing demand rises in India Business Standard
Lohia Global on Thursday announced its entry into the real estate business with its venture, Lohia Worldspace. The company, which is involved in exports, auto, and renewable energy, will develop both residential and commercial real estate in India. The company will first focus on Tier-II cities and then move to bigger markets like Delhi National Capital Region (NCR).
The company is aiming to develop five residential projects across a 3 million square feet area in the next five years, beginning with luxury residences in Moradabad. "We recognise the rising demand for modern and high-quality housing in India's urban areas and Tier-II markets. We want to first concentrate on projects in the Tier-II cities and then expand to NCR, creating premium living," said Pyush Lohia, director at Lohia Worldspace.
