Ivory Property Trust Secures Iconic Tardeo Properties for ₹355 Crore
Ivory Property Trust has made a significant acquisition by purchasing Bayside Mall and Popular Press land in Tardeo, Mumbai, for ₹355 crore. This move is set to enhance Mumbai's commercial landscape.
Real EstateMumbaiTardeoBayside MallIvory Property TrustReal Estate MumbaiDec 06, 2024
Tardeo, located in South Mumbai, is known for its thriving commercial and residential zones. The area has seen substantial development over the years, making it a prime location for real estate investments. Bayside Mall, a popular shopping destination, and the land where the Popular Press once stood, are key assets that promise high returns and strategic opportunities for development.
About Ivory Property TrustIvory Property Trust is a well-established real estate company known for its innovative projects and commitment to sustainable development. The trust has a strong portfolio of residential and commercial properties across major cities in India. With a focus on delivering high-quality infrastructure and enhancing urban living, Ivory Property Trust has been a trusted name in the industry for over a decade.
The AcquisitionThe acquisition of Bayside Mall and the Popular Press land is a significant milestone for Ivory Property Trust. The Bayside Mall, with its prime location and extensive footfall, is a valuable asset. The land where the Popular Press was located also holds immense potential for redevelopment into a modern commercial complex. The total area of the acquired properties is approximately 1.5 lakh square feet, making it one of the largest real estate deals in the area in recent years.
Plans for the FutureIvory Property Trust has ambitious plans for these properties. The Bayside Mall will undergo a revamp to enhance its retail experience and attract more high-end brands. The land formerly occupied by the Popular Press will be redeveloped into a state-of-the-art commercial complex, featuring modern office spaces, retail outlets, and recreational facilities. The goal is to create a vibrant and integrated commercial hub that meets the needs of businesses and residents alike.
Impact on TardeoThe acquisition is expected to have a positive impact on the Tardeo area. It will bring in new investments, create job opportunities, and boost local businesses. The enhanced commercial infrastructure will also improve the quality of life for residents and attract more foot traffic to the area.
ConclusionIvory Property Trust's acquisition of Bayside Mall and the Popular Press land in Tardeo is a testament to the company's commitment to growth and development. With a focus on creating modern, sustainable, and integrated properties, Ivory Property Trust is set to play a pivotal role in shaping the future of commercial real estate in Mumbai.
Frequently Asked Questions
What properties has Ivory Property Trust acquired in Tardeo?
Ivory Property Trust has acquired Bayside Mall and the land formerly occupied by the Popular Press in Tardeo, Mumbai.
What is the value of the acquisition?
The total value of the acquisition is ₹355 crore.
What are Ivory Property Trust's plans for the acquired properties?
Ivory Property Trust plans to revamp Bayside Mall and redevelop the Popular Press land into a modern commercial complex with office spaces, retail outlets, and recreational facilities.
What impact will this acquisition have on the Tardeo area?
The acquisition is expected to bring new investments, create job opportunities, and boost local businesses, ultimately enhancing the commercial infrastructure and quality of life in Tardeo.
Who is Ivory Property Trust?
Ivory Property Trust is a well-established real estate company known for its innovative projects and commitment to sustainable development. It has a strong portfolio of residential and commercial properties across major cities in India.
Related News Articles
India's Luxury Property Market on the Rise: Mumbai and Delhi Top Global Charts
Mumbai and Delhi have emerged as top contenders in the global luxury real estate market, with significant annual price increases in prime residential properties.
Gaurs Group Eyes IPO Within 18 Months to Capitalize on Steady Growth
Gaurs Group plans to launch its Initial Public Offering (IPO) within 18 months, driven by strong market demand and recent success in luxury housing projects.
Sayba Group's Strategic Redevelopment Projects Set to Revitalize Jogeshwari and Bandra West
Sayba Group is making significant strides in the real estate market by consistently delivering high-quality projects on time. Its premium real estate arm, Sayba Spaces, is focusing on strategic redevelopment projects in Jogeshwari and Bandra West, set to
Haryana RERA Imposes Penalty on '1000 Trees' Housing Project Promoter
The Haryana Real Estate Regulatory Authority (RERA) has imposed a significant penalty on the promoter of the '1000 Trees' housing project for violating regulations.
MahaRERA Enhances Transparency: 62% of Housing Projects Now Updating Progress Reports
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has made significant strides in boosting transparency in the real estate sector. Over 62% of housing projects are now regularly updating their progress reports, ensuring better accountability and
Understanding the Impact of Tariffs on China and the Smartphone Market
Finfluencer Shankar Sharma reveals the true reasons behind the minimal impact of Donald Trump's tariffs on the smartphone market, despite the economic strain on China.