Malabar eyes pan-India expansion with ₹100b projects
Malabar group announced that Malabar Developers, its property development wing, plans to develop commercial and residential properties worth ₹100 billion across the country. The group will raise funds from investors, including NRIs and banks, to develop commercial clusters and integrated townships across India in the next five years.
Malabar Developers also announced South Indian actor Dulquer Salmaan as its brand ambassador.
“We have prepared a road map to emerge as one of the biggest real estate players in the country by 2020 by developing commercial business clusters, shopping malls, convention facilities, affordable residential properties, technology hubs and integrated townships,” said group chairman M.P. Ahammed.
“Our plan is to construct luxury villas and affordable budget homes across main cities in the next five years. We are in the process of tying up for joint ventures at the national level,” he added.
On roping in Salman as brand ambassador, Ahammed said the actor enjoyed star value among youngsters across the country. “Apart from being stylish and a highly talented entertainer, Dulquer has a ‘boy next door’ image. This makes him the best brand ambassador for Malabar Developers,” he said.
Malabar Developers currently has a land bank of 200 acres in three states, more than two million square feet of ongoing projects and more than 16 million square feet of upcoming projects. The group has different verticals to provide a range of services. The company extends services such as housekeeping, interior design, insurance, landscaping, organic farming, rental and sale services, travel desk, medical clinic, electrical and plumbing services, health care, logistics, pest control, etc.
It has already started working on building Kerala’s first and largest private integrated IT and HiTech Township in Thrissur, with an estimated investment of ₹20 billion. The township, in addition to the IT/HiTech Park, will have apartments, convention facility, commercial cluster, shopping mall and entertainment centre. The seven million sq ft project is expected to generate 50,000 jobs. A similar township is also being planned at Mangalore in Karnataka. Mall of Travancore, a 600,000 square feet retail space in Thiruvananthapuram, is nearing completion. The mall will have 200 outlets of international brands, apart from seven multiplexes.
The Malabar Marina Convention Centre in Kozhikode will be inaugurated by the end of December. Apart from this, a township spread across 100 acres at Montan Estate will have signature bungalows, villas, spa resort, organic farming, landscaped gardens, fitness centre, wellness centre and club house, adjacent to the Group headquarters.
— deepthi@khaleejtimes.com
We are in the process of tying up for joint ventures at the national level
M.P. Ahammed, Malabar Group chairman