Mumbai, April 11 -- The proposed project marks a strategic move by the company to expand its footprint into real estate development, as it continues to diversify beyond its core hospitality and club services business.

Emerald Leisures, which operates Club Emerald Sports Complex in Chembur, has traditionally been engaged in sports, club, banquet, wellness and hospitality services. The company has been gradually building its real estate presence over the past few years as part of its diversification strategy.

The redevelopment project is expected to unlock significant value from the Swastik Park land parcel and strengthen the company's transition into the real estate sector.

Jaydeep Vinod Mehta, Director of Emerald Leisures, said, "We ar...