HDFC Capital Invests in Tribeca for Luxury Residential Project in Mumbai
Newzdaddy Business Updates
Historic Tejukaya Group Teams Up with Tribeca and HDFC Capital for Iconic Project
In a significant development, Tribeca Developers, renowned for its luxury branded residential projects, has joined hands with the Tejukaya Group to undertake a landmark residential project in Parel, South Mumbai. HDFC Capital, a leading financial institution, is backing this venture with a substantial investment of Rs. 200 crores.
This marks Tribeca’s debut project in Mumbai and its second collaboration with HDFC Capital under a Rs. 500 crore residential housing platform established in 2019. The 2.5-acre project in Parel, adhering to the government’s Cluster Redevelopment Policy, is set to feature over 400 luxury residences with a combined sale value of Rs. 1,800 crores.
Tribeca’s Stellar Portfolio, Mumbai’s Prime Location
Tribeca Developers, recognized for iconic projects like Trump Towers in Gurugram and Kolkata, as well as The Ark in Pune, is expanding its footprint to Mumbai’s prime neighborhood, Parel. Known for creating residences that redefine luxury living, Tribeca’s portfolio boasts global standards of opulence.
A Historic Collaboration with Tejukaya Group and HDFC Capital
The project unfolds on land owned by the Tejukaya family for over 90 years, gaining approvals under Mumbai’s cluster redevelopment policy. Mr. Kalpesh Mehta, the Founder of Tribeca, expressed excitement about returning to Mumbai after a decade of crafting landmark projects nationwide. He highlighted the unique opportunity presented by the project’s strategic location and robust partnerships.
In collaboration with the Tejukaya Group, which boasts a remarkable 135-year legacy in delivering iconic infrastructure projects, and HDFC Capital, Tribeca aims to create not just luxury residences but a city landmark.
Tejukaya Group’s Vision for a Global Landmark
Mr. Pranav P. Tejookaya, CEO & Managing Director of Tejukaya Group, shared his dream of building a global landmark on the family-owned land parcel. Partnering with Tribeca, the force behind Trump Towers, and HDFC Capital, he envisions creating a project that Mumbai will cherish, combining Tejukaya Group’s infrastructure expertise with Tribeca’s proficiency in delivering exceptional products.
This collaboration is expected to set new benchmarks in Mumbai’s real estate landscape, offering a blend of luxury, legacy, and visionary development.
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