"Emaar India to Invest ₹2,000 Crore in Mumbai Metropolitan Region"

Real estate giant Emaar India is set to invest ₹2,000 crore, primarily in the Mumbai Metropolitan Region (MMR), as announced by company executives recently. The company unveiled its inaugural project, Casa Venero, which spans approximately 25 acres and will feature 84 "limited collection exquisite villas" in Alibag, located near Mumbai.

The project is estimated to generate revenue potential of around ₹700 crore, with villa prices ranging between ₹9 crore and ₹15 crore.

Kalyan Chakrabarti, CEO of Emaar India, expressed excitement about entering the western real estate market, stating, “We are thrilled to announce our entry into the western real estate market. We are excited to build a residential space that echoes international standards of luxury with the serene charm of Alibag, providing a truly exceptional living experience. This project is a testament to Emaar’s global reputation for quality and design."

The company noted that Alibag is becoming a favored location for luxury first homes, offering a perfect blend of peaceful coastal living and improved connectivity to Mumbai.

When questioned about future investment plans in the MMR and preferred project locations, the company indicated it would share details once its Mumbai plans are finalized.

In addition to its MMR focus, Emaar India's portfolio includes residential and commercial projects across the National Capital Region (NCR), Mohali, Indore, Lucknow, and Jaipur.

BS