Aparna Constructions is entering the retail and entertainment sector with an investment of Rs 284 crore

Real estate firm Aparna Constructions and Estates Pvt Ltd on Monday said it has tied up with malls and cinemas with an investment of Rs 284 crore. In a statement, Aparna Constructions and Estates announced its entry into the retail and entertainment segment with the launch of Aparna Neo Mall and Aparna Cinemas in Hyderabad.

Situated in the Nallagandla region, the mall is spread over an area of ​​3.67 acres and has a total buildable area of ​​3.5 lakh square feet.

“Aligning with its broader business diversification objectives, Aparna Constructions has made a strategic investment of Rs 252 crore in Aparna Neo and an additional investment of Rs 32 crore in Aparna Cinemas,” he added.

The company plans to build four new malls in Telangana and Andhra Pradesh by 2027.

Aparna Constructions currently has a portfolio of 77 projects, of which 66 are residential properties and 11 are commercial and retail spaces in Telangana, Andhra Pradesh and Karnataka.