Developer taps NRI investors

dubai — Nikken Sekkei and Mumbai-based developer Godrej Properties showcased their collaborative residential work — Godrej Origins at The Trees, in Mumbai, at Cityscape Global.

The development transformed a former soap factory into a sustainable community. Aimed at upper middle-class Non-Resident Indians (NRIs), the project, once completed in Q2, 2021, will provide sustainable luxury living certified to the highest global standards.

According to industry analysts, property market sales in India are expected to grow at 14 per cent (CAGR) until 2020 and 18 per cent from 2020-25.

It is estimated that the 2.6-million strong Indian expatriate community in the UAE alone invested $1.69 billion (Dh6.2 billion) into the Indian real estate market in the first nine months of 2016, according to a report from property consultancy Square Yards.

“We have witnessed an overwhelming response to this development from end-users and investors alike, with the majority of the inventory that we have released sold out within a few days of the launch. This mixed-use development is also home to our head office building Godrej One, our upcoming luxury Taj hotel as well as a museum,” said Anubhav Gupta, executive vice-president — business head Vikhroli, chief design officer, head CSR and sustainability at Godrej Properties.

— business@khaleejtimes.com