Construction Industry News
Real estate firm Tribeca Developers joined Tricon Infra Buildtech to construct a luxury housing project in South Pune costing approximately Rs 525 crore, which is part of the expansion plan.
On Thursday, the Mumbai-based company launched the 'YOO ONE' project in partnership with Tricon Infra. The two partners would build 286 apartments in two phases as part of this project.
The price of an apartment will range from Rs 1.9 crore to Rs 3.6 crore. Tribeca Developers founder Kalpesh Mehta said Tribeca has brought the Trump brand to India. They have now joined another global brand YOO for their new project.
Tricon Infra owns the 6.75 hectares of land and Tribeca is the development manager of the new project. While YOO is a brand partner.
'The total project cost with the land cost is Rs 525 crore. The construction cost is about Rs 450 crore. The total investment would be financed through equity, debt and advances from their customers against sale.
Tricon Managing Director, Brajesh Singh said the project would be completed in the next four years. Singh said that Tricon Infra has completed 35 projects as a contractor and this is their first project as a developer.
The project will be the third YOO brand third project in Pune and the fifth in the country. Susanne Khan will be the interior designer of the project.
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