Integrated mixed use development in the heart of Mumbai

The Wadia Group, with its three centuries of legacy across multiple industry segments like ship building, aviation, foods, engineering and architectural consultancy services; has today announced its foray in to the real estate sector with the launch of Bombay Realty. The Group also announced the launch of Mumbai’s first fully integrated “Mixed Use” development, the Island City Center located in the heart of the island city of Mumbai.
 

The Island City Center will be built over 45 acres of groups landbank and it will consist of luxury residences, serviced apartments, offices, a 5-star hotel, a high street, a premium mall, and an international school. All this and over 8 acres of open green landscape.

Commenting on the launch, Mr. Jeh Wadia, Managing Director, Bombay Realty, said: “For over centuries the Wadia Group has prided on its excellence and spirit of entrepreneurship. The Wadia Group has many successful ventures such as Bombay Dyeing, Britannia, Gherzi Eastern and Go Air built on these values. The Group has accomplished landmark projects across residences, offices, hospitality, retail, industrial and even townships across India. Bombay Realty our newest venture will consolidate the groups land bank of over 10,000 acres and develop the same in a progressive manner.”

Mr Manish Agrawal, Vice President, Marketing added: “Bombay Realty will play the role of developer for the Wadia Group which has a land bank of more than 10000 acres. The Group has close to 700 acres around the city of Mumbai, and 70 acres in the Island city. With the launch of Mixed Use project ‘The Island City Center’ we are offering a lifestyle that provides the ability to live, work, play, all at one place. The Island City Center aims to provide a better quality of life to its residents, by saving them a couple of hours of commute every day, which they can then spend with their family and friends.”

“At The Island City Center, we don’t sell property, we will be selling time; and with it, a better life” says Mr Jeh Wadia. This city within a city, is a gated community and promises its own private roads, an unparalleled security with a world class infrastructure.”
 

The project has been launched at a time when Jones Lang LaSalle in their 2012 forecast for the Mumbai real estate market has said that, “Mumbai will underscore its status as a relatively safe haven for Indian core real estate. HNI investors will re-enter the market in a big way, and the increased HNI investment volumes are likely to put pressure on core cap rate”
 

Luxury Residences at Island City Center – ONE ICC & TWO ICC
Bombay Realty has launched two iconic towers in Mumbai – ONE ICC & TWO ICC. These two magnificent residential towers will offer every comfort and convenience to its discerning residents.

With exacting standards and careful attention to the minutest detail, these residences will epitomize extraordinary grandeur – with air-conditioned lifts and lift lobbies, reception areas, unique state-of-the-art safety & security systems (such as jet fans in the basement and smart cards for restricted entry) and use of cutting-edge technology (be it the jump-form technology, the use of post-tension slabs, or the multiple high-speed elevators to ensure reduced waiting time). Picture windows, spectacular views, grand entry-foyers, modern imported modular kitchens, stylish bathrooms and elegantly designed rooms are the other salient features.

For the over indulgent, ONE ICC & TWO ICC will provide access to every conceivable privilege and still have the time for more. Whether it’s the Golf putting green, air-conditioned squash courts, games rooms, kids play area, library, cricket nets, the barbecue pits, the concierge & travel desk or the multiple swimming pools – for any occasion, there’s everything one could have asked for and a little bit of what one couldn’t have begun to imagine.
 

Philanthropy

While the Wadia Group epitomizes the spirit of entrepreneurship, philanthropy is at the core of everything the Group does – 33 acres of affordable housing (Nowroz Baug in Lalbaug, Rustom Baug and Jer Baug in Byculla, Cusrow Baug in Colaba), 8 acres of accessible healthcare (Nowrosjee Wadia Maternity Hospital) and Jerbai Wadia Children’s Hospital in Mumbai). Besides, the Group has built several education institutes in Pune (Nowrosjee Wadia College of Arts & Science, Cusrow Wadia Institute of Technology, Ness Wadia College of Commerce, Neville Wadia Institute of Management and Research and M.E. Society’s College of Engineering).
 

Past Real Estate ventures

The Group, through its arm Gherzi Eastern, has been associated with various premium residences in Mumbai (Springs, Samudra Mahal, Beach Towers, Twin Towers and Naperol Towers), offices(C1 & C2, Wadia International Center), townships across India (Integrated IT-SEZ in Tamil Nadu, Doyang in Nagaland, Cinnamara Township in Assam, Integrated Textile Park in Bhopal), multi-star hotels (Grand Hyatt and Grand Intercontinental in Mumbai, Goa Renaissance, Hyatt Regency in Delhi, Taj Krishna in Hyderabad and Yak & Yeti Hotel in Nepal), retail projects (Central Mall and IMAX Multiplex in Vadodara, Fame Adlabs and Fame Multiplex in Mumbai, IMAX Multiplex in Hyderabad, Natraj Multiplex and Satyam Cineplex in Delhi) and several industrial projects (Alok Industries and Welspun in Vapi, Moser Baer in Noida, Spentex Industries in Baramati and Whirlpool in Pune). Source: Money Control