Sobha has signed Joint Venture Deal in Somajiguda, Hyderabad

Sobha has signed Joint Venture Deal in Somajiguda, Hyderabad

Sobha Luxury Apartments Coming to Hyderabad. Sobha Developers, renowned for their luxury apartments, is expanding its reach by entering the Hyderabad residential market. Sobha has signed Joint Venture Deal in Somajiguda, Hyderabad

Key Points:

• Partnership: Sobha signed a joint development agreement with local landlords to construct high-end apartments encompassing a total area of 0.75 million sq ft.
• Target Market: Sobha sees strong demand in the Rs 50 lakh to Rs 2 crore segment, and the Hyderabad project reflects this focus.
• Project Details:
  • Location: Somajiguda, Hyderabad
  • Unit size: Above 1850 sq ft
  • Number of Units: 270
• Expansion Plans: Sobha aims to launch over 10 million sq ft of residential projects, including their affordable “Dream Series” segment, to fuel growth.
• Investment: The total investment for these projects is estimated at Rs 4500 crore (including debt and equity) over the next five years.
• Market Outlook: Despite a challenging environment, Sobha reports positive sales figures.
• Strategic Diversification: Sobha is also increasing its focus on mid-income housing and exploring commercial and retail projects.
• Growth Potential: The Bengaluru-based firm anticipates significant growth in their Rs 50 lakh and above housing segment due to rising market demand.
• Current Performance: Currently, 65% of Sobha’s revenue comes from residential projects priced above Rs 1 crore. They achieved a pre-sales volume of 1.06 million sq ft valued at Rs 778 crore in the first quarter of the current financial year.

Sobha’s entry into Hyderabad signifies their confidence in the recovering southern real estate market, particularly the high-end segment. Their expansion plans and strategic diversification position them for continued growth in the Indian market.

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