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Mumbai-based property developer Roha Realty will open sales and marketing offices in Dubai, Singapore and Hong Kong as part of its plans to attract investment from non-resident Indians (NRIs) from around the world through these channels. three markets, a senior official said.
The developer’s development portfolio includes eight delivered and nine projects in development, with a total development portfolio of more than 3 million square feet worth $200 million, and is known for delivering quality homes to its clients.
According to the Indian Brand Equity Foundation (IBEF), the Indian real estate industry is expected to be worth $1 trillion by 2030, up from $200 billion in 2021, and the industry will contribute 13% of GDP by 2025 .
A total of 55,907 new homes were sold in eight micro-markets in India between July 2021 and September 2021 (up 59% year-on-year), IBEF said in a report. He added that the Indian real estate industry completed more than 1,700 acres of land transactions in the top 7 cities within a year.
It added that Indian companies are expected to raise as much as 3.5 trillion rupees ($48 billion) in 2022 through infrastructure and REITs, compared to the $29 billion worth of funds raised so far, according to ICRA estimates.
Roha Realty is the real estate arm of the Roha Group, a Mumbai-based diversified business conglomerate with over 5 years of history.
Roha Realty, a mid-sized property developer in Mumbai, India, has been named “Mumbai’s Most Promising and Trustworthy Developer” at the Business Giants Awards held in Dubai, the report said.
“We do plan to enter Dubai and other international real estate markets, and as a group we operate in 45 countries,” said Roha Realty Managing Director Harshvardhan Tibrewala after accepting the prestigious award at a grand ceremony in Dubai. Obviously, we will leverage the strong corporate network we have in all of these countries to reach a wider global NRI clientele,” he added.
Tibrewala is the driving force behind curating and creating new age residential masterpieces that will stand the test of time. Over the years, he has been reimagining living spaces to suit everyone’s needs and believes that the real estate industry is not about bricks and cement, but about a relationship of humanity and warmth.
“We are not your typical Mumbai developers, we are industrialists. As a team, we have a 50-year tradition of business excellence. For us, it’s not just about completing projects, it’s about quality of construction and timely delivery. We have A practical and customer-centric approach and treats every home as our home,” he said.
“This award reflects our hard work and solid reputation built on trust over the past 50 years of excellence. I dedicate this award to our great team and to our clients who have trusted us time and time again,” he added .
According to him, Roha Realty has delivered eight residential projects, while another nine are currently in various stages of development. These belong to all segments to cater for different budgets, he added.
“We are developing properties in all segments based on all locations, Mumbai has needs in all segments and we are providing solutions for all,” Tibrewala said. “The Indian real estate market will continue to be active due to a growing middle class, rapid urbanisation and industrialisation,” he noted.
“India will be number one in terms of industrialization for at least the next decade. After Covid-19, many countries want to shift their operations in India, and if industry comes, the real estate market must perform well,” he added.
The awards ceremony was held at the Grand Hyatt Dubai and was attended by more than 500 corporate members from Mumbai and Dubai.-TradeArabia News Service
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