(MENAFN) India's Reliance Communications plans to demerge its real estate business as it looks to concentrate on its core business, Reuters reported.
India's third largest telecommunications company by customer base said that its unit, Reliance Properties, will work with global partners to develop real estate, which includes land in Mumbai and New Delhi.
The value of the real estate when developed was estimated to be more than USD2 billion, the company added.
Last December Reliance Group and China's Dalian Wanda Group announced a tie-up to develop real estate and movie theatre projects.
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