Arvind SmartSpaces Limited (ASL) ventures into Surat with a sprawling golf-themed development project spanning 300 acres, valued at INR 1,100 crore. Positioned along NH 48, it marks ASL's 19th project in Gujarat, following Ahmedabad and Gandhinagar. The joint development model ensures low capital intensity and higher returns (55% revenue share). Surat's strategic location as a business hub, coupled with its emerging demand for plotted development and weekend homes, enhances the project's appeal. Noteworthy features include a golf course, expansive clubhouse, orchards with thousands of trees, and a private lake. For future growth, ASL's expansion strategy targets Bengaluru, Pune, and MMR regions.
Arvind SmartSpaces Limited (ASL), a prominent real estate developer in India, has announced its entry into the Surat market with a significant golf-themed development project. Spanning approximately 300 acres in Northern Surat along NH 48, this venture marks ASL's 19th project in Gujarat. Operating under a joint development model with a 55% revenue share, the project boasts a top-line potential of approximately INR 1,100 crore, ensuring low capital intensity and promising returns.
Surat, renowned as a thriving business hub, presents a very good opportunity for ASL's expansion. It is the third city in Gujarat under ASL’s belt after Ahmedabad and Gandhinagar. The region's growing demand for plotted development and weekend homes further enhances the project's potential.
Strategically located with well-developed connectivity to various parts of Surat and close proximity to industrial cities like Ankleshwar and Bharuch, the project is set to become the first large-scale plotting project in Surat. It will feature a golf course, expansive clubhouse, orchards with thousands of mature trees, and a private lake, catering to the evolving preferences of homebuyers.
Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, expressed optimism about the Surat residential market and the company's eagerness to contribute to its growth. With this venture, ASL expands its operational footprint to five cities across India, reflecting its confidence in the opportunities presented by the Surat market. Singal highlighted ASL's ongoing diversification and business development initiatives, which have yielded promising results. The cumulative new business development topline potential for the current year exceeds INR 3,900 crore, underscoring ASL's ambitious growth trajectory.
Looking ahead, ASL aims to further expand its presence by adding projects in key markets such as Bengaluru, Pune, and the MMR region in the coming quarters. This strategic expansion aligns with ASL's commitment to delivering innovative and sustainable real estate solutions that cater to the evolving needs of urban dwellers across India.
In summary, ASL's entry into the Surat market with a pioneering golf-themed development project underscores its strategic vision and commitment to tapping into emerging opportunities in India's dynamic real estate landscape. With a focus on delivering high-quality projects and driving sustainable growth, ASL continues to establish itself as a leading player in the Indian real estate sector.
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