Cable Corporation of India on Wednesday said that it has forayed into the real estate sector with an investment plan of Rs 1,000 crore for its first project. The company will be developing the project through its associate company, CCI Projects Private Ltd (CCP), in which CCI holds 15% stake.
The project, spread over 22 acres, will be called Rivali Park and is located at Borivali, Mumbai.The project is conceived as a mixed-use development with various retail, commercial, hospitality, entertainment and cultural elements.
The project is expected to be completed within five ? seven years in phases. The first phase is part of the residential development and is expected to be completed in the next two-to-three years.