MQDC set to make waves in India with luxury residential ventures and co-working spaces
Author : PNT Bureau
Magnolia Quality Development Corporation (MQDC), a Thai real estate giant, is in discussions with local builders for potential projects in the National Capital Region (NCR), eyeing a partnership announcement early next year. The focus is on luxury residential developments in Delhi and Gurugram, forming part of mixed-use projects. MQDC also plans to establish five co-working facilities in the NCR, with one operational in Greater Kailash-II and another on Golf Course Road in Gurugram. The co-working space in Gurugram started operations on November 30. MQDC, valued at over $9 billion globally, anticipates project details and investments to be finalized in early 2023....
End-to-End Solutions and Robust Financials: EFC (India) sets co-working agenda
Author : PNT Bureau
EFC (India), the sole listed company in integrated serviced offices and co-working spaces, is set to triple its seat capacity from 32,000 to 92,000 by March 2026, capitalizing on strong institutional demand. Founder & CEO Umesh Sahay revealed the ambitious plan, funded through a mix of equity and debt, citing India's surge as the world's second-largest co-working market. The expansion aims to make EFC a major industry player. With enterprise solutions under EFC and co-working as Sprint, the company operates across seven Indian cities, offering comprehensive office space management services and anticipating significant revenue growth by FY26....
Roha Realty and Sabari Group partner for a joint venture in Chembur, Mumbai
Author : PNT Bureau
Roha Realty and Sabari Group have announced a strategic joint venture in Chembur, strengthening Roha Realty's position in the Mumbai Metropolitan Region. The collaboration aims to redefine premium living with sustainable residences covering 6 lakh sq. ft. and an estimated revenue of Rs 1000 crore. This follows Roha Realty's redevelopment agreement with MHADA for two societies in Subhash Nagar, aligning with their commitment to community enhancement. The collaboration with Sabari Group and the Subhash Nagar redevelopment anticipates generating approximately Rs. 1,500 crores, furthering Roha Realty's vision to be a leading developer prioritizing enduring value and customer-centric principles....
Hiranandani Group diversifies into real estate consulting services with the launch of ‘Eleva’
Author : PNT Bureau
Hiranandani Group introduces Eleva, a service consultant development model providing expertise in development, construction, design, marketing, and sales solutions for landowners and developers. Founder Niranjan Hiranandani notes the potential to aid projects in the market. The initiative, requiring no new investment, focuses on utilizing existing infrastructure. The first project, Vista in Andheri West, Mumbai, spans 3.33 lakh square feet, with plans for five projects covering nearly five lakh square feet by March 2024. The model's service-fee revenue approach positions the group as consultants for landowners with clear titles and statutory approvals....
WorkEZ plans Rs 63 crore investment in 12 months, surpassing 1 million sq. ft of flex office space
Author : PNT Bureau
Chennai-based WorkEZ, a managed office and co-working space provider, is set to invest Rs 63 crore in its expansion across Chennai, Bengaluru, and Coimbatore. Leasing four new centres, including spaces in Velachery and Alwarpet in Chennai, Bengaluru, and Coimbatore, the company's managed office space portfolio now spans 1.1 million square feet. WorkEZ aims to achieve a six-million-square-foot overall portfolio by FY2028. With an annual growth rate exceeding 50 percent, the company reported over 90 percent occupancy across its eight operational centres in Chennai and marked profitability in FY23 with a CAGR of just over 150 percent....
Ganga Realty's Nandaka 84 raises the bar for luxury living in Gurugram
Author : PNT Bureau
Ganga Realty unveils the Nandaka 84 uber-luxury residential project in Gurugram, committing an investment of over 1000 crores for its development. Strategically located near Dwarka Expressway and NH-48, the self-funded project spans 8.33 acres, featuring 3BHKs, 4BHKs, and penthouses across four towers. Partnering with London-based firm UHA, the project emphasizes green inclusivity with Miyawaki Gardens, medicinal and air-purifying flora, EV charging stations, and various amenities. Ganga Realty aims for single-phase completion by 2028, echoing the success of their first luxury project in Gurugram. The company's symbolic focus on "pure luxury" aligns with the growing demand for high-end residences in Gurugram....
Rustomjee Group sets sights on future growth with projects near Mumbai-Ahmedabad Bullet Train
Author : PNT Bureau
The Rustomjee Group, also known as Keystone Realtors Ltd. (KRL), is in negotiations with landowners for joint ventures and joint development initiatives for projects near the Mumbai-Ahmedabad Bullet Train Project. Boman Irani, the Chairman and Managing Director of KRL, shared this strategy during the Q2FY24 earnings conference call. The company is also eyeing opportunities around the Mumbai Trans Harbour Link (MTHL). With an anticipated completion date of 2027 for the bullet train project, KRL is positioning itself for future cash flow in areas adjacent to major infrastructure projects. The company aims to launch projects with a revenue potential of Rs 4,000 crore in the current fiscal year, focusing on redevelopment and projects in the Mumbai Metropolitan Region....
IndiQube targets a 40 percent revenue expansion in FY24
Author : PNT Bureau
Flexible office space provider IndiQube, supported by WestBridge Capital, reported a net profit in the last fiscal year, ending four years of consecutive losses. With a 70 percent year-on-year revenue increase, reaching Rs 595 crore, it anticipates a 40 percent rise in the current fiscal. IndiQube targets Rs 850 crore in revenue, planning to add 3–4 million square feet to its portfolio. Founded in 2015, the Bengaluru-based company caters to over 450 customers in 13 cities. Boasting over 90 percent occupancy, it earns 75–80 percent of revenue from rentals, with stable cash flows and a strategic focus on profitability....
The Guardians Real Estate Advisory expands portfolio with specialized verticals
Author : PNT Bureau
India's prominent real estate advisory firm, The Guardians Real Estate Advisory, has introduced two verticals – The Guardians Cavalry and The Guardians Luxury. The Guardians Cavalry targets emerging developers with projects under Rs 100 crore, offering strategic guidance and transformative solutions, even for smaller-scale initiatives. Simultaneously, The Guardians Luxury caters to high-net-worth individuals, providing an exclusive platform for high-value residences and projects priced between Rs 10 crore and Rs 100 crore, ensuring a personalized and refined experience. This strategic move aligns with the firm's ethos of innovation, client-centricity, and a commitment to setting industry standards....
Stalled Atal Apartments Scheme in Ludhiana sees third attempt at construction
Author : PNT Bureau
Ludhiana Improvement Trust is set to resume construction of Atal Apartments on Pakhowal Road after multiple stalled attempts. The project, initiated over a decade ago, faced delays, dropouts, and multiple inaugurations. The latest effort, backed by the current government, plans to start construction after the formal inauguration at the end of the month, possibly attended by Punjab Chief Minister Bhagwant Mann or Local Bodies Minister Balkar Singh. The project, marked by a tumultuous history of allotments, withdrawals, and changing political climates, aims to provide 576 flats with modern amenities on 8.8 acres of land....
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