DB Realty announced that ECC-DB-Konark joint venture (JV), which is developing a residential project as 'DB Skypark', near T2 International Airport and next to Hilton Hotel, Sahar, Mumbai. DB Realty has an economic interest of 75% in this project.

Commencement Certificate dated Jun. 16, 2015 has been received for sale buildings. The total built up area of the project is approx. 4.70 lakhs sft spread across 7 wings of 12 stories.

The project has achieved financial closure and also appointed the contractor. Work has commenced for phase I and the entire project is expected to be completed in about 3 years.

Shares of the company gained Rs 5.1, or 8.37%, to trade at Rs 66.05. The total volume of shares traded was 160,499 at the BSE (10.04 a.m., Friday).