Notable builders of Trump Towers in India, Tribeca tied up with Noida based Logix Group for developing mixed-use real estate project in Noida with a whopping investment of about 250 crores.
Located in well-developed sector-32, Noida, the mixed-use project located adjacent to Logix City Centre mall and encompasses office space, retail space, and serviced apartments. The total developable area of the project is approx 5 lakh sq.ft, out of which 2 lakh sq.ft. each reserved for office and retail space and remaining one lakh sq.ft. an area dedicated to serviced apartments. The company has roped Anarock Capital who will act as an advisor to this collaboration.
Kalpesh Mehta, Founder and Managing Director of Tribeca, informed the construction cost would come around Rs. 250 crores and the Tribeca group would fund the project by seeking financial assistance from the financial partners; however the land belongs to the Logix Group. He further remarked that the group will shoulder the responsibility of selling office space and serviced apartments, and leasing of the retail area. To add further, he uncovered the fact the group was planning to develop residences and hotel but with time we changed our strategy.
At present, Tribeca is involved in developing five projects across Kolkatta, Mumbai, and NCR having a total value of Rs. 6,500 crore. The group is developing Trump Tower projects in Gurugram and Kolkatta. On the other hand, the Logix Group delivered over 9 million square feet across commercial, IT/ITeS and residential projects.