Realty firm SBP to invest INR 730 cr for projects in Himachal

New Delhi, Sep. 7 (PTI): Punjab-based realty firm SBP Group has signed agreements with the Himachal Pradesh government to invest INR 730 crore for developing housing and commercial projects in the hilly state.

SBP Group has signed memorandums of understanding (MoUs) with the Himachal Pradesh government to invest INR 730 crore in the Himalayan state, the realty firm said in a statement.

The MoUs were signed during the investors’ meet held recently in Chandigarh, it added.

As per the MoUs, SBP Group will invest INR 630 crore for building residential projects in Mandi, Solan and Shimla and another INR 100 crore for a resort/hotel with 120 rooms in Shimla, the statement said.

SBP Group MD Aman Singla and VP Raman Singla said the company is expanding its presence in Himachal Pradesh after establishing a strong customer base with multiple projects in Punjab.

SBP Group has delivered around 12 residential projects across Punjab and is currently developing many more.