Emaar India
After its successful ventures in North India, Emaar India is now making its entry into Mumbai’s real estate sector, with plans to invest ₹2,000 crore in the next few years. On October 21, the company launched a luxury villa project in Alibag, near Mumbai.
Emaar India’s CEO, Kalyan Chakrabarti, noted that the Mumbai market is highly attractive due to its maturity and depth. “We are open to redevelopment projects across the city, including sought-after areas like Bandra and Andheri. Our focus will be on the mid- and luxury-segment properties,” he stated.
Having established a presence in India since 2005, Emaar India has completed projects in cities like Gurugram, Mohali, Indore, Lucknow, and Hyderabad.
Alibag Project Details
The new development in Alibag, dubbed Casa Venero, spans 25 acres and will feature 84 luxury villas. The villas are priced between ₹9 crore and ₹15 crore, with the company estimating revenue of approximately ₹700 crore from the project. Located near Kihim Beach, the villas will range in size from 3,314 sq. ft. to 5,120 sq. ft., offering a serene, upscale living experience.
Strong Demand from Local and International Buyers
Emaar expects around 80% of buyers to be from Mumbai, with significant interest also coming from Dubai and Delhi. “We are seeing increasing demand for first homes in Alibag, a trend that we believe will grow over the next few years as Alibag evolves into a primary residential destination,” Chakrabarti said.
The project’s proximity to the Mandwa jetty, which provides ferry access to South Mumbai, adds to its appeal. Chakrabarti emphasized that Casa Venero offers an exclusive living experience combining international standards of luxury with the tranquility of Alibag.
Alibag’s Growing Appeal as a Residential Hub
Once a retreat for high-net-worth individuals and celebrities, Alibag is now seeing interest from the upper-middle-class segment, with many people investing in holiday homes post-COVID-19. Experts believe the area has the potential to transform into a primary residential hub in the next decade, as infrastructure continues to develop.
“Alibag is becoming an extension of South Mumbai for some residents, and its growth as a primary home destination is inevitable as connectivity and amenities improve,” said Nibhrant Shah, Managing Director and Co-CEO of Isprava Group.
Chirag Singh is a content writer with a focus on real estate, covering topics like News, Guidance, Tips, Property trends and Investments. He has written for various platforms, providing helpful insights to readers. With a background in real estate, Chirag combines his knowledge and passion for real estate in his work. He enjoys staying updated on the latest industry trends.
