Forbes Global Properties enters the Indian real estate market with plans to build in Goa, Delhi, and Mumbai.

Forbes Global Properties Ventures into Indian Real Estate

Entry into Indian Market

Forbes Global Properties, a US-based entity, has formally announced its entry into the Indian real estate market. As of January 24, the company will provide brokerage services for luxury residences. Additionally, it plans to collaborate with landowners to develop projects in Delhi and Mumbai, totaling 10 million square feet.

Projects in Pipeline

  • Navi Mumbai: A 100-acre project is under negotiation with Orange Smart City, as part of a 1,200-acre integrated township.
  • Goa: A potential 10-lakh-square-foot residential project is being explored.
  • Delhi: A commercial project is in the negotiation phase.

Investment Details

The exact amount of investment Forbes Global Properties plans to make in India has not been disclosed.

Business Model

Founded in December 2020, Forbes Global Properties operates through a membership network model, currently present in 26 countries with 17,000 agents. In India, the company will operate as “Indian Forbes Global Properties,” with A.K Sharma as its chairman. The business will utilize a development management model for projects.

Primary Focus

“Brokerage is our primary business,” stated A.K Sharma. “India Forbes Global Properties will offer brokerage services for the luxury residential market and is considering purchasing equity stakes in at least two of these consulting firms.”

Market Expansion Rationale

According to Forbes Global Properties CEO Michael W. Jalbert, “India has a sizable market and economy. To better assist our clients looking to purchase and sell luxury properties, we have expanded into India.”

Strategic Partnerships

  • Orange Smart City: For the Navi Mumbai project.
  • PropEquity Analytics: A partnership to leverage PropEquity’s real-time data, intelligence, and analytics platform.

Luxury Real Estate Market Insights

PropEquity’s founder and CEO, Samir Jasuja, highlighted the growth of India’s luxury real estate market: “In 2019, there were about 5,235 units (above $1 million), with a total value of $5 billion. Today, this number has more than doubled to approximately 13,600 units worth $12 billion, primarily driven by demand from the NRI segment and the overall expansion of the Indian economy.”

Exclusive Network

The Forbes Global Properties network provides high net-worth individuals, inventors, and real estate investors with access to exclusive, unique properties worldwide through its invitation-only membership.