Emaar India Plans Rs 2,000 Crore Investment in Mumbai Metropolitan Region
Real estate giant Emaar India is set to invest Rs 2,000 crore, primarily in the Mumbai Metropolitan Region (MMR) market, as part of its strategic expansion plans. The company will launch its first project, Casa Venero, in Alibag.
Emaar IndiaMumbai Metropolitan RegionReal EstateInvestmentLuxury VillasReal Estate MumbaiOct 21, 2024
The first project under this investment, Casa Venero, is set to be launched in Alibag, a coastal town near Mumbai. The project will cover an area of approximately 25 acres and will feature 84 luxurious villas, priced between Rs 9 crore and Rs 15 crore. The estimated revenue potential of Casa Venero is around Rs 700 crore.
Kalyan Chakrabarti, CEO of Emaar India, expressed his excitement about the project, stating, “We are thrilled to announce our entry into the western real estate market. Casa Venero will offer a living experience that combines international standards of luxury with the serene charm of Alibag. This project is a testament to Emaar’s global reputation for quality and design.”
Alibag is rapidly gaining popularity as a preferred location for luxury first-homes. It offers a unique blend of peaceful coastal living and improved connectivity to Mumbai, making it an attractive choice for discerning homebuyers. The company highlighted that the project is designed to meet the growing demand for high-end residential properties in the region.
When asked about future plans for investment in the MMR and potential locations for new projects, the company indicated that it would provide more details once its plans are finalized. However, it is clear that Emaar India is committed to further expanding its presence in the MMR market.
Emaar India's portfolio already includes a range of residential and commercial projects in other major cities like the National Capital Region (NCR), Mohali, Indore, Lucknow, and Jaipur. The company's foray into the MMR market is a significant step forward in its strategy to diversify and strengthen its position in the Indian real estate sector.
With a strong track record of delivering high-quality projects, Emaar India is well-positioned to capitalize on the opportunities presented by the MMR market. The company's investment of Rs 2,000 crore is expected to create a significant impact on the local real estate landscape and attract more investors and homebuyers to the region.
Frequently Asked Questions
How much is Emaar India planning to invest in the Mumbai Metropolitan Region (MMR)?
Emaar India is planning to invest Rs 2,000 crore in the Mumbai Metropolitan Region (MMR).
What is the name of the first project Emaar India is launching in the MMR?
The first project Emaar India is launching in the MMR is called Casa Venero, located in Alibag.
How many villas will be built in the Casa Venero project?
The Casa Venero project will feature 84 luxurious villas.
What is the estimated revenue potential of the Casa Venero project?
The estimated revenue potential of the Casa Venero project is around Rs 700 crore.
What other cities does Emaar India have projects in besides the MMR?
Emaar India has projects in the National Capital Region (NCR), Mohali, Indore, Lucknow, and Jaipur.
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