Ackruti City opts for rebranding
Ackruti City, the developer with major presence in Mumbai and MMR is now Hubtown Ltd following its name change which came into effect from October 31.
Ackruti City, the developer with major presence in Mumbai and MMR is now Hubtown Ltd following its name change which came into effect from October 31.
Ackruti City is in talks with a couple of private equity (PE) lenders to raise around Rs.150 crore by selling around 25% in its proposed redevelopment project in Chembur, north eastern suburb of Mumbai.
Ackruti City has launched Ackruti Hillcrest, a residential project with the offer of an initial discount to buyers during the launch period.
Ackruti City Limited has received IGBC Gold Precertification for its Thane-based project Ackruti Greenwoods.
Indian real estate majors, DLF and Unitech, are set to miss their FY11 sales target, despite prices reaching the highs of 2007. Mid cap names like HDIL, Ackruti City and Sobha Developers are however on track to meet their targets.
Track2Realty Exclusive: As more and more real estate companies are getting bullish over branding in a cut-throat market, adapting to emerging business models and today’s Facebook culture, this survey tried to figure out whether they are being forced to transform their image or is it just a natural evolution of the sector on holistic branding parameters.
Office architecture in Indian cities has improved significantly during the last decade, in terms of aesthetics, sustainability, scale and amenities that it provides to the occupiers. There is a growing demand from occupiers towards better amenities at the workplace.
In commercial real estate there is a general marketing strategy to showcase brands that book the space. Will SMEs cluster give the developer that cutting edge?
Phoenix has recently also sold 80 per cent of office properties in its mixed-use Market City projects in Kurla in Mumbai and Pune, respectively. It plans to launch another 300,000 sq ft of office properties in Mumbai in the next six-nine months.
In the country’s commercial capital, Mumbai, over a dozen large developers and double their number of smaller ones are selling office properties as well, according to Ashok Kumar, Principal and Managing Director of Cresa Partners, a corporate realty services firm.