The real estate developer’s portfolio consists of eight delivered and nine under-development projects with a total development exceeding 3 million sq ft worth $200 million
Roha Realty, a Mumbai-based real estate developer, is going to open sales and marketing offices in Dubai, Singapore and Hong Kong, as part of its plan to attract investment from Non-Resident Indians (NRIs) from across the world through these three markets, according to a Roha official.
The real estate developer’s portfolio consists of eight delivered and nine under-development projects with a total development exceeding 3 million sq ft worth $200 million.
The Dubai entry announcement comes as the real estate sector in India is expected to reach $1 trillion in market value by 2030, up from $200 billion in 2021 and contribute 13% to the country’s GDP by 2025, according to India Brand Equity Foundation (IBEF).
Between July 2021 and September 2021, a total of 55,907 new housing units were sold in the eight micro markets in India (59% YoY growth), IBEF said in a report. India’s real estate sector saw over 1,700 acres of land deals in the top 7 cities in a year, he added.
As per ICRA estimates, Indian firms are expected to raise up to Rs3.5 trillion ($48 billion) through infrastructure and real estate investment trusts in 2022, as compared with raised funds worth $29 billion to date, it added.
“For the next ten years at least, India will rank 1st in terms of industrialisation. Post Covid-19 lot of countries want to shift their operations in India and if Industries come Real Estate market has to perform well.”
— Harshvardhan Tibrewala, Managing Director of Roha Realty
Roha Realty is the real estate arm of the Mumbai-based diversified business conglomerate Roha Group, with a legacy of more than five decades.
A mid-size real estate developer in Mumbai, India, Roha Realty has already been named as the ‘Most Promising and Trusted Developer, Mumbai’ at the Business Titans Awards held in Dubai, stated the report.
“We do plan to enter Dubai and other international markets for real estate and as a group we have presence in 45 countries,” Harshvardhan Tibrewala, Managing Director of Roha Realty, said after receiving the prestigious awards, at a ceremony in Dubai. “Obviously, we will utilise the great corporate network we have in all these countries to reach out to a wider global NRI clientele,” he added.
“We are not typical developers in Mumbai, we are industrialists. We have a legacy of 50 years of business excellence as a group. More than just completing the project, what matters to us is the quality of construction and the timely delivery. We have practical and customer centric approach and think of every home as our home,” Tibrewala stated.
Roha Realty has already delivered eight residential projects while a further nine projects are currently at various stages of development. These belong to all the market segments to cater to different budgets, Tibrewala added.
“We are developing properties in all segments depending on all the locations, Mumbai has the need of all the segments and we are providing solutions for all,” observed Tibrewala. “The Indian real estate market will continue to remain buoyant due to growing middle class, rapid urbanization and industrialization,” he said.
“For the next ten years at least, India will rank 1st in terms of industrialisation. Post Covid-19 lot of countries want to shift their operations in India and if Industries come Real Estate market has to perform well,” Tibrewala added.
*********************************************************************
Readers
These are extraordinary times. All of us have to rely on high-impact, trustworthy journalism. And this is especially true of the Indian Diaspora. Members of the Indian community overseas cannot be fed with inaccurate news.
Pravasi Samwad is a venture that has no shareholders. It is the result of an impassioned initiative of a handful of Indian journalists spread around the world. We have taken the small step forward with the pledge to provide news with accuracy, free from political and commercial influence. Our aim is to keep you, our readers, informed about developments at ‘home’ and across the world that affect you.
Please help us to keep our journalism independent and free.
In these difficult times, to run a news website requires finances. While every contribution, big or small, will makes a difference, we request our readers to put us in touch with advertisers worldwide. It will be a great help.
For more information: pravasisamwad00@gmail.com
