Moneycontrol
Mar 01, 2017 09:08 AM IST | Source: PTI

Tata Housing announces two new projects in Maldives

The company, which is the real estate arm of the Tata group, has launched two high-end property developments at Odeon and Nadhee.


Realty firm Tata Housing today announced expansion in Maldives real estate market with launch of two luxury housing projects in Male.


The company, which is the real estate arm of the Tata group, has launched two high-end property developments at Odeon and Nadhee.


"The projects will be developed by Apex Realty Pvt Ltd, a joint venture between Tata Housing Development Company Ltd and SG 18 Realty Pvt Ltd," Mumbai-based Tata Housing said in a statement.


Tata Housing, which entered Maldives market about 5 years ago, has already completed a social housing project in the island country in partnership with the Maldives government.


The project Luxa One at Odeon will be the first project in Male. "Located at the retail and residential luxury hub of the island, Majeedhee Magu, Luxa One is spread across 10,000 sq ft comprising of 54 luxury, 3-bedroom apartments," it said.


The second project at Nadhee is built across 21,000 sq ft, located in the exclusive residential area of Sosun Magu and comprises of 72 luxury, 3-bedroom apartments and retail areas.


Commenting on this development, Tata Housing Spokesperson said: "We are pleased to announce the launch our luxury projects at Odeon and Nadhee. These project are designed to endorse the beauty of its island capital, Male and we believe these would emerge to be the new landmark for Male."

"I am happy that Tata Housing, one of the strongest brands in the Indian Real Estate sector with offerings across various segments, is coming to Male. I am sure this association between the two countries will go a long way and strengthen the bonds between people of both the countries," said Akhilesh Mishra, Ambassador of India at Maldives.

Tata Housing is currently developing over 70 million square feet of real estate and has a pipeline of 19 million square feet.

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