PUNE: Tribeca, the developers of multiple Trump Towers in India has completed the acquisition of a majority stake of 51% in a 1.3 million square feet luxury project ‘Voyage to the Stars’ at NIBM Road in Pune, in a sign of the rapid consolidation in the Indian real estate market. Pune is a key market for Tribeca with the real estate market gradually witnessing revival signs.
Voyage to the Stars was launched by Acropolis Developers in 2015 and ran into financial difficulties in 2019. Tribeca was selected as the preferred developer by the lenders and by Acropolis due to Tribeca’s experience with luxury residential developments in India through its Trump association.
Popular for its asset-light model, Tribeca has been scaling quickly to focus on acquiring distressed projects and revive them through its product innovation, distribution, customer experience, and delivery, thereby creating a compelling consumer brand.
‘Voyage to the Stars’ towers above the Pune skyline and boasts of Pune’s first terrace deck that is deemed to become the region’s most opulent and signature style, bridging all five towers forming a gigantic two-and-a-half-acre entertainment deck in a vision that is both, breathtakingly bold and beautiful. Loaded with amenities for people across age groups, it is going to redefine luxury living. The project promises homes that would be of world standards. Voyage to the Stars would harness modern technology and become a landmark and a statement of engineering excellence in India.
Each tower houses 68 apartments with four apartments on each floor and a total of 400 apartments across all five towers. The project offers only 3- and 4-bedroom apartments with the pricing of INR 2 – 2 ½ crores onwards. Out of the five towers, Tower A has been delivered already. Towers B and C will be delivered by 2021 and 2022 respectively and Towers D and E are planned for delivery by 2023.
NIBM location promises peace and greenery away from the urban chaos yet equipped with unmatched comforts for true luxury living. It is centrally located with easy access to the city’s top schools, malls, hotels, hospitals as well as to the Pune International Airport and the railway station. Complimenting a gracious lifestyle, the project offers exclusive 3 and 4 BHK apartments, master crafted for people aspiring to live life in unabashed opulence.
Mr. Kalpesh Mehta, Founder of Tribeca said, “It’s indeed a great milestone to be able to expand into another key region in the real estate segment – Pune with an iconic project that is amongst the best in our portfolio, right up there with our Trump developments. We really look forward to put forth a roadmap for the launch of this brilliant project.”
He further added, “Our asset light strategy helps focus our energies on what we do best – Design, build and sell unlike owning a land which requires a difficult skill set and high-risk capital.”
Tribeca’s plans on launching Voyage to the Stars in March 2021 and is already seeing strong interest from customers and brokers. “We moved three generations of our family all the way from Boat Club road to NIBM road because we fell in love with this project. We are thrilled to have a firm like Tribeca takeover this project. Existing and prospective customers are very happy with this news”, said Mr. Gandhi, a current resident in the project.
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2014 The Global Indian New Network (TGINN)