Mukesh Ambani’s Reliance Industries Enters Commercial Real Estate Business With RSOUL

In a major development in the real-estate sector, billionaire Mukesh Ambani-led Reliance Industries Ltd. (RIL) has entered the commercial real estate business. The same has been announced by the company in a regulatory filing.

As per the regulatory filing, RIL has incorporated a wholly-owned subsidiary called Reliance SOU Limited (RSOUL). Through this entity, the Mukesh Ambani-led conglomerate will enter the commercial real estate sector, ready to compete with the existing big players like Adani Properties, Tata Realty & Infrastructure and so on. 

In addition to setting up this wholly-owned subsidiary, Reliance Industries Ltd. has also invested Rs 1,00,000 in the equity shares of RSOUL.

The official update from the regulatory filing by RIL reads, “The Company has incorporated a wholly owned subsidiary named “Reliance SOU Limited” (“RSOUL”) to carry on, inter alia, the business of development of properties for commercial use and invested Rs. 1,00,000 in the equity shares of RSOUL.”

Also Read | Mukesh Ambani’s RIL Arm To Build Greenfield Smart City Near Gurugram; All You Need To Know

With RIL’s foray into the commercial real estate business, the company is not just diversifying its portfolio even more but also stepping up to dominate yet another space. The bet in RSOUL is here to stay and possibly will help the company strengthen its consumer-focussed businesses. 

Before this, Reliance Industries also made headlines when the company’s Model Economic Township Limited or MET City announced that it would build Greenfield Smart City in Gurugram, Haryana. The project is reportedly aimed at revolutionising the real estate and infra landscape of Gurugram.