Alembic Ventures into Real Estate with Alchemy Real Estate
India's oldest pharmaceutical company, Alembic, officially announced its entry into the real estate sector on Friday with the launch of Alchemy Real Estate.
Leadership at Alchemy Real Estate
- CEO: Mr. Udit Amin, son of Chirayu Amin, Chairman and Managing Director of Alembic Limited.
Background on Alembic's Real Estate Foray
- Announcement Timeline: June this year, when Alembic declared its plans to venture into the realty sector, focusing on both residential and commercial properties.
- Key Projects: The first among these is the residential project named Shangri-La.
Shangri-La Residential Project Overview
- Location: Situated on Alembic Road, overlooking the Alembic Cricket Ground, and in proximity to Bhailal Amin Hospital.
- Project Specifications:
- Total Towers: 11
- Floors per Tower: 9
- Total Flats: 396, varied across:
- 2 BHK
- 3 BHK
- 4 BHK
- Land Coverage: Spread over 6 acres
Land Holdings for Real Estate Purposes
- Total Land Held by Alembic in the City: Over 100 acres
- Potential Use for Real Estate: Approximately 50 acres might be dedicated to real estate projects.