Arkade Developers Limited, has entered into an Memorandum of Understanding (MoU) to acquire 100% shareholding in Woollen and Textile Industries Ltd, thereby marking its second acquisition in Bhandup West.
The proposed acquisition includes a land parcel admeasuring 14,363.60 sq. mtrs. located in Bhandup (West). The total consideration for the deal is Rs 148 crore.
Speaking on the proposed acquisition, Amit Jain, CMD of Arkade Developers, said: “This proposed acquisition underlines Arkade Developers’ vision of creating value-driven developments at strategic locations. With our legacy of trust, timely delivery, and quality construction, we look forward to unlocking the potential of this land parcel and contributing meaningfully to urban transformation.”
Arkade Developers continues to strengthen its footprint across MMR’s central corridor with landmark developments like Arkade Earth in Kanjurmarg (4 acres), Arkade Nest in Mulund (2 acres), and Arkade Rare in Bhandup (3 acres) and also recently announced the strategic entry into the Thane market with a 6.28-acre land acquisition.
Earlier, it acquired the 'Filmistan Pvt Ltd', for a total outlay of ~Rs 183 crores. This acquisition will enable Arkade Developers to develop the iconic 4-acre land parcel situated on SV Road in Goregaon West, popularly known as ‘Filmistan Studios’.
