(MENAFN - Khaleej Times) Indias omkar realtors & developers has officially launched its first overseas office in dubai and the companys top official indicated it was open to joint-venture possibilities to build projects in the emirate.
omkar realtors officials bharat dhuppar chief marketing officer; devang varma director; umesh jaandiyal; john guest head of epc; and sumanth kumar pr advisor during the press conference in dubai late on monday. — supplied photo
initially the mumbai-based luxury realty brand will market its five projects in the uae and later on in other gulf countries as the company already has an existing customer base globally including the gcc markets and that the dubai overseas office would further serve as the gateway to non-resident-indian property buyers spread across the middle east.
“we are open for the [joint venture] here [in dubai]. if someone has a piece of land and want us to construct design and market we are open to that. but not now may be in the next two years” omkar realtors head of sales for gcc markets umesh jaandiyal told khaleej times at the launch of the dubai office late on monday. “our focus is only mumbai and we have done about 12 projects. here in dubai we are showcasing four residential projects and one commercial project.”
in the next six to eight months the company will see about another three or four projects being launched he said adding: “we will look at two to three projects every quarter.”
talking about the property market in mumbai he hoped prices would go further up by at least 15 per cent by the end of 2014. he mentioned that omkar projects witnessed the highest return on investments.
“within short spans every project by omkar has appreciated tremendously. while omkar alta monte malad is currently being offered at rs13250 per sqft the flagship omkar 1973 worli is priced at approximately rs40000 per sqft reflecting around 26 per cent year-on-year returns over a three-year span.
he said the nri community has been constantly looking out for attractive propositions in the premium property market back in india especially in mumbai.
the decade-young omkar brand currently enjoys the market leadership in mumbai’s redevelopment space and has successfully designed projects aimed at luxury gated communities. this includes its most anticipated ultra-luxury residential development omkar 1973 worli and the largest gated community in mumbai’s suburbs omkar alta monte. the company’s dubai team based out of the emirate will be initially offering four of its prime luxury residential projects for the gcc audience. the four projects include omkar 1973 worli (worli) omkar alta monte (malad east) veda exclusive (parel) and ananta (goregaon east).
the company which holds a strong land bank inventory in mumbai is also one of the largest developers of the city’s luxury housing that also includes a joint venture with construction giant larsen & toubro. the company which has developed and delivered more than four million sqft of area in mumbai is currently engaged in developing an over 20 million sqft area spanning residential and commercial segments across the city’s prime locations. the company’s future development pipeline includes an additional 20 million sqft of space which is expected to be rolled out soon.
globally-leading names in architectural designing and luxury amenities backed by some of the best talent pool drawn from international and domestic space have been engaged by the brand.
it has also engaged leading international architecture and design firms foster partners from the uk and us-based callison for its premium residential projects. this marks the entry of foster partners in mumbai’s luxury residential space.