Bombay Realty to Showcase Island City Center at Dubai Indian Property Show
The Wadia Group is set to present its ambitious Island City Center project at the Indian Property Show in Dubai, scheduled for December 13th to 15th. The group anticipates significant interest and business opportunities from Non-Resident Indians (NRIs) based in Dubai.
Mumbai's Newest Residential Hub: Island City Center
Bombay Realty, the real estate arm of the Wadia Group, is launching its flagship residential project, Island City Center (ICC), in Dadar, Mumbai. This expansive township project sprawls across approximately 29 acres in the heart of the city.
"The Island City Center is designed to offer a desirable lifestyle which caters the possibility to live, work and play at one place," stated Jeh Wadia, Managing Director of The Bombay Dyeing & Manufacturing Co Ltd. This landmark project marks Bombay Realty's first foray into residential real estate development.
Island City Center: Reducing Commute, Enhancing Lifestyle
One of the key advantages of the Island City Center is its central location. It promises to significantly reduce residents' commuting time. This, as Mr. Wadia points out, allows residents to spend more quality time with family and friends. "This saved hours can rightly be spent with the family members or peer groups."
A Blend of Luxury and Convenience
The Island City Center envisions ultra-luxury residences nestled within a mixed-use development. This includes office spaces, a 5-star hotel, a shopping mall, an international school, and approximately six acres dedicated to green landscapes.
Luxury Housing: A Vibrant Segment in India
Durgesh Mehta, Joint Managing Director of The Bombay Dyeing & Manufacturing, highlighted the dynamism of the luxury housing segment in India. "Luxury housing- segment has become one of the most vibrant and dynamic real estate segments in India," he stated.
He attributed the growing demand for luxury housing to several factors, including a rise in the number of High-Net-Worth Individuals (HNIs), rapid urbanization, and the influx of global lifestyle trends. The depreciation of the Indian rupee has further fueled investments in this segment, particularly from NRIs.
"Once the HNIs become familiar with the international lifestyles of cities like Dubai, they become more inclined to luxury lifestyle. This increased demand for luxury housing encourages the real estate developers to launch luxury projects with maximum facilities."
Financial Backing for Island City Center
Bombay Realty officials confirmed that leading financial institutions have approved the towers of the Island City Center, demonstrating strong confidence in the project.