March 29, 2024

The Business Day

Latest news on business, economy, startups

Asset Homes announces its 100th project, Asset Identity, in Technopark Thiruvananthapuram. Also announced five more residential projects

●     The 74th and 75th completed projects will be inaugurated in Kannur on January 7, 2023.

●     Announced a 3-year mega initiative – Mission Centennial with 100 initiatives culminating with completing the 100th project.

●     The company will enter the GCC market with two residential projects in Dubai. And also to expand nationally with projects in Tamil Nadu, Karnataka and Odisha.

●     To join hands with JGT (a CGH Earth company) to develop ultra-luxury residences with high-end hospitality services.

Asset Homes, the leading residential developer in Kerala, has formed a partnership with Taurus Investment Holdings, a global real estate private equity investment and development firm based in Boston, USA. Taurus, which has made over $10 Billion (INR 82,000 Crores) in investments spanning more than 70 million (7 Crore) square feet of assets across the world, has joined hands with Asset Homes both as a joint venture partner and investor. This is the first time that a Kerala-based real estate company has attracted foreign direct investment (FDI).

Erik Rijnbout, Global President, Taurus Investment Holdings, said that the firm has decided to partner with Asset Homes considering the Kerala builder’s well-established systems in place, corporate governance, high-quality products, innovative ideas and growth prospects. “Taurus Investment Holdings is excited to form a partnership with Asset Homes that will, over the near to medium term, help Asset Homes to enter the next stage of growth,” said Ajay Prasad, Country Managing Director – India at Taurus.

Asset Homes has completed seven housing projects in the calendar year 2022. As many as 450 housing units were built in these projects, covering a total area of around 6 lakh sq ft. The 74th and 75th completed projects of Asset Homes (Asset Senate and Asset Raintree) will be inaugurated in Kannur on Saturday (January 7), said Sunil Kumar. V., Founder and Managing Director of Asset Homes.

A. N. Shamseer, Speaker, Kerala Legislative Assembly; P Santhosh Kumar MP, K. V. Sumesh MLA, T. O. Mohanan, Mayor, Kannur; A P Abdullakkutty, former MP, Asha Sharath, Actor and Brand Ambassador of Asset Homes will grace the inaugural function.

Construction of Asset Identity, the company’s 100th project, will begin this month itself, said Sunilkumar. The apartment complex comprising 300 housing units, including super luxury apartments, penthouses and selfie units, will be constructed as part of Taurus Downtown Trivandrum, a 5.5 million (55 lakh) square foot, mixed-use precinct being developed in Technopark Phase III in Thiruvananthapuram. Asset Identity will include 96-sqft selfie apartments, which brought global recognition for Asset Homes and 2, 3 and 4-bedroom apartments.

Taurus Downtown Trivandrum has over 3.5 million (35 lakhs) square feet of offices, Kerala’s largest shopping centre and the Identity tower, in a total of 55 lakh square feet of built space on approximately 25 acres of land. Leading global architect Benoy’s London and Newark offices have designed the master plan for the project. “The Downtown Trivandrum project, envisaged as a city within a city, will introduce Kerala to a new international lifestyle that it is as of yet unused to”, opined Anil Kumar, Chief Operating Officer, Taurus India.

Sunilkumar outlined a 3-year mega initiative – Mission Centennial, with 100 initiatives culminating with the completion of the 100th project by November 2025. This ambitious roadmap will put Asset Homes into the top-league Indian Real Estate industry.

In addition to Asset Identity, Asset Homes will launch five more new housing projects in Ernakulam, Alappuzha, Kozhikode and Thrissur in this financial year (2022-23), thus making the total tally 105, informed Sunilkumar.

Sunilkumar also explained the geographical expansion plan to other states and foreign countries. As per this, the company will start two housing projects in Dubai in 2023. The projects will come up in JVC and Al Warsan, prominent and developed residential areas in Dubai. Sunilkumar said the revised Visa rules and high quality of living had made Dubai a favourite investment destination. Asset Homes will also start projects in Karnataka, Tamil Nadu and Odisha in 2023.

In association with JGT, the real estate wing of the leading hospitality group CGH Earth, Asset Homes will also enter into super-premium, uber-luxe projects with global luxury amenities and five-star hospitality services in prime locations. The first phase will see such projects in Kochi, Kottayam and Thrissur.For more details, contact Sunilkumar V, sunil