Sharanam Infraproject Ventures into UAE Real Estate Market

Sharanam Infraproject and Trading, a supplier of building materials and steel products, has announced the establishment of a wholly-owned subsidiary in the UAE aimed at tapping into the real estate sector.

With an investment of AED 18 million over nine months, the new venture will emphasize land arbitrage transactions, acquiring strategically located land for resale to larger players at modest profit margins. This initiative is part of a broader strategy to enter global markets methodically while enhancing shareholder value.

Earlier this year, Sharanam Infraproject raised Rs 48 crore through a rights issue to fund its expansion strategy and improve working capital. The company's pivot to the UAE real estate market marks a significant milestone in its growth trajectory.

(With inputs from agencies.)