The acclaimed success in Dubai has prompted the Italian fashion designer Giorgio Armani to introduce superior luxury apartments in India. Armani will join forces with the Noida-based real estate group Supertech for this initiative.
Giorgio Armani, a distinguished fashion designer, is preparing to reshape the landscape of luxury real estate in India.
Luxury Real Estate Expansion
Giorgio Armani is poised to elevate the luxury real estate market in India through a collaboration with Supertech. Together, they will develop superior and ultra-luxury apartments in Noida.
Last year, Armani partnered with the Mumbai-based real estate developer group Lodha. This year, the Italian fashion designer is extending his reach by teaming up with the Noida-based Supertech to design the Armani Tower.
Previous Luxury Projects
Lodha developers previously signed with Armani to design their 117-storey residential project, which includes apartments and villas. The prices for these units range from Rs.7.5 Cr to Rs.50 Cr.
Armani Tower in Noida
The Armani Tower will feature 100 luxury housing units within Supernova, one of Supertech's most notable luxury projects. The project will span 4,00,000 sq. ft. and Armani will be responsible for designing the interiors and furniture.
The project will offer apartments in two sizes: 3,000 sq. ft. and 5,000 sq. ft. The estimated rate per sq. ft. will be around Rs.20,000, making these units the most expensive in Greater Noida.
Market Resilience
Real estate analysts believe that the Armani brand is resistant to market fluctuations. They cite the success of Armani Residences in Burj Khalifa, which remained unaffected by market declines in Dubai.
Luxury projects are typically selective, and despite a slowdown in the real estate market earlier this year, luxury residential units have seen sustained demand. This demand is notably higher for projects designed by Armani.
Upcoming Launches
Supertech group’s chairman and MD R K Arora revealed that the group is in final talks with the Italian fashion designer. He expressed optimism that the project will be launched soon.