Updated January 26th, 2024 at 14:41 IST
Forbes Global Properties announces debut in Indian real estate market
It has already established its presence in 26 countries, with a network of 17,000 agents offering real estate services to clients.
Forbes enters India: Forbes Global Properties, a US-based real estate entity, is set to make its debut in the Indian real estate market through the introduction of India Forbes Global Properties, according to media reports. It has already established its presence in 26 countries, with a network of 17,000 agents offering real estate services to clients.
India Forbes Global Properties, an extension of Forbes Global Properties, will operate as an invitation-only network, reserved for distinguished brokerages in select cities and second-home destinations. The platform aims to connect high-net-worth individuals, investors, and real estate enthusiasts with exclusive properties across India, establishing a benchmark for luxurious living.
India's realty rise
The move into India reflects Forbes Global Properties' recognition of the nation as one of the most dynamic and growing markets in the post-COVID era. This decision is aligned with the surge in the luxury property market, where India is increasingly becoming an attractive destination for discerning investors.
CEO Michael W Jalbert expressed enthusiasm about the expansion, emphasising the unlimited opportunities for buyers and investors seeking ultra-luxurious homes. Board Chair Matt Beall highlighted the honour of entering India's luxury real estate market, envisioning the introduction of a curated collection of homes that mirror the country's cultural and architectural diversity.
Elite realty vision
India Forbes Global Properties Chair, AK Sharma, sees this alliance as a representation of luxury in Indian real estate, targeting the elite segment of the population. Director Mona Vij envisions the platform setting new standards of opulence, positioning Forbes Global Properties as a player in India's real estate landscape.
The properties will include diverse options, such as large estates in Himachal Pradesh and upscale penthouses with views of the Arabian Sea in Mumbai. The initial project in New Delhi will feature a 7-acre plot incorporating high-end retail spaces, a club, and a luxurious hotel.
In a partnership, India Forbes Global Properties has collaborated with the JV of Orange Smart City in Navi Mumbai for the development of 1200 acres of land. This project, valued at Rs 1,20,000 crore, involves the construction of up to 10 lakh crore square feet and marks one of the initial ventures.
Published January 26th, 2024 at 13:11 IST