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Skyline Builders plans to invest Rs 2,500-crore in Kerala

Skyline Builders plans to invest Rs 2,500-crore in Kerala

Kochi; Kerala based Skyline Builders is planning to invest Rs 2,500 crore over the next five years and eyeing tier-II and III cities of Kerala for expansion.

The group, which is celebrating its silver jubilee this year, began operations in Kerala in 1989 and has developed 1.3 lakh square feet built up area, completed 110 residential projects, besides 24 ongoing projects, across 10 cities, Abdul Azeez, Chairman and Managing Director, told reporters here.

On expansion to other states, he said though they did not have immediate plans, in future they could look up at Bengaluru and Coimbatore. "However, we do not want to lose our focus now and would like to concentrate in Kerala," he said.

The group has presence in smaller cities like Thiruvalla, Pala, Kannur, Thrissur, and would be soon launching a project in Thalassery in kannur district, he said.

With the completion of the Kochi Metro project, it would be easier for builders to develop areas further away from the cities, he said.

On plans with regard to affordable housing, Azeez said they were not keen to foray into this area as of now with the skyrocketing construction and land costs, heavy taxes being levied by government and high bank interest rates would make it impossible to provide affordable homes.

Demands from the domestic customers have increased tremendously in the last few years, he said, adding that most of the clients were NRIs when they started, he said.

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