Emaar India Limited acquired a 25-acre plot in Alibaug, Maharashtra. Finalized on October 15, 2024, this transaction allows Emaar India, through its wholly-owned subsidiary Shitij Buildcon Private Limited, to expand its footprint into one of Maharashtra’s most rapidly developing real estate markets. Located near Mumbai, Alibaug is increasingly popular for premium vacation homes, driven by its scenic coastal setting and proximity to urban centers.
This acquisition signifies Emaar India’s strategic pivot toward catering to India’s growing demand for luxury living spaces outside metropolitan areas. The upcoming project will target buyers seeking exclusive holiday residences, aligning with Alibaug’s trend as a preferred getaway location for Mumbai’s affluent. In addition to facilitating the purchase, SAMCo was instrumental in preparing regulatory documentation for compliance with the Real Estate Regulatory Authority (RERA), an essential step for project transparency and legal alignment. RERA registration is expected to further enhance buyer confidence in the project, a significant advantage in the competitive Alibaug market.
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Bhoumick Vaidya, Partner at SAMCo, led the advisory team alongside Senior Associates Harshini Kotecha and Sona Phogaat and Associate Yash Bhansali. Commenting on the acquisition, Vaidya emphasized that SAMCo’s guidance went beyond the transactional aspects. “Our role was comprehensive, ensuring regulatory ease for Emaar as they enter Alibaug’s promising market,” he remarked. He further noted that the venture aligns with Emaar’s vision to create luxury destinations catering to aspirational Indian buyers who are increasingly interested in high-end second homes.
Emaar India echoed this vision, stating, “Alibaug represents a unique opportunity to create a luxury holiday destination. Our goal is to redefine luxury living experiences along India’s coastline.” The company anticipates that this venture will strengthen its presence in India’s real estate market, tapping into a demand surge among those seeking high-quality holiday homes near urban areas.
The Alibaug project aligns with Emaar’s strategy to establish a stronger footprint in India’s premium real estate sector, which is witnessing substantial growth. With urban dwellers looking to balance work and leisure, Alibaug’s proximity to Mumbai offers a blend of accessibility and exclusivity. SAMCo’s comprehensive advisory approach on this project reinforces its reputation as a top choice for complex real estate transactions in India.
(By Sumit Singh)
