Vibe Realty Private Limited (Vibe Realty), a realty venture today announced that it has successfully acquired four projects across the Western Suburbs of Mumbai, namely, Khar West, Bandra East, Goregaon West, and Andheri East. This marks Vibe Realty’s strong entry into the real estate development segment with three residential redevelopment projects and one commercial project estimated to have a cumulative development potential of 1.5 million square feet, sales potential of 0.9 million square feet and revenue potential of Rs. 1,500 crores.
These projects are slated to be launched in the subsequent quarters starting Q4 FY23. In addition, Vibe Realty targets maintaining the growth momentum as a real estate developer by looking to add 3-4 projects under redevelopment, outright purchase, and JV/JD structures in prime locations across Mumbai and Pune in the next 12-15 months.
Over the last one year, since launching operations as a development company in the sector, Vibe Realty has established strong brand equity as a highly credible partner to landowners and housing societies. On the back of its previous achievements, wherein the company successfully instituted nine projects aligning with various developers under its Capital to Consumer (C2C)/Development Management (DM) model, the company now plans to leverage the brand equity of its founder and two years of operations as a service provider, to create strategic growth opportunities.
Commenting on the announcement, Gopal Sarda, Founder and CEO, Vibe Realty Private Limited said, “We are excited to announce the acquisition of four projects across Mumbai, which establishes our position in multiple high-potential suburbs of Mumbai. Marking the second anniversary of the commencement of Company’s business, we look forward to building on the focused initiatives undertaken over the last two years that has made us a recognisable brand in the operating ecosystem of the real estate sector. Expanding our horizon from a service provider to a developer, we will be in the unique position of providing a complete, 360-degree perspective to all our stakeholders.
Vibe Realty’s resounding successes in a short period of just two years now positions us favourably to focus on redevelopment opportunities and other options of Outright, Joint Venture and Joint Development in the vibrant Mumbai & Pune markets. In addition, we will continue to explore other innovative engagement models to drive our business forward.”
