Satra Properties India Ltd has informed BSE that further to approval of Investments to be made in Satra International Realtors Ltd., a Wholly Owned Subsidiary (WOS) Company incorporated in Dubai (UAE), the Company has invested an amount of INR. 26 Crores.

SATRA INTERNATIONAL REALTORS LTD has entered into an Agreement for Purchase of Freehold Property at site Majan, Dubai, consisting of 24,217 sq. ft. of plot area and 96,868 sq. ft. of BUA in Majan Development Site Plan No. MUE.031. The said property is purchased for a consideration of AED 25,573,152/- (United Arab Emirates Dirham Twenty Five Million five hundred seventy three thousand one hundred fifty two only).

The said Project in Dubai is proposed to he developed for Commercial Offices with Modern and Hi end amenities and shall consist of ground plus 9 floors. The Total cost of the said project is estimated at approx. INR 120 Crores and has the capacity to generate the Total Revenue of approx. INR 180 Crores. The said Project is scheduled to commence within four months and is scheduled to be completed within 18 months thereafter.