The Indian arm of Bangkok-based Pruksa Real Estate, Pruksa India Housing, based in Bangalore, has ambitious goals for India. It is looking to invest $300 million in the country over the next five years. Pruksa Real Estate is a leading property developer in Thailand and is also among the top 10 players in Asia, reports Financial Chronicle.
Pruksa’s chief executive officer Thongma Vijitpongpun said the real estate company has a land bank of 26 acres in Bangalore and 25 acres in Mumbai. “We are also studying Delhi as a prospective market,” he said. “We have already invested $10 million for our first project,” he added. “Demand for housing in India is strong and we think it’s a good investment for us.” S Mohan, assistant vice-president, India business, said, “We want to bring in luxury living at affordable prices in India.”
Pruksa has Asia’s biggest precast factory in Bangkok that can construct 260 houses in a month. “We hope to bring precast technology to India,” Mohan said. Pruksa India Housing’s first project in Bangalore, Pruksa Silvana, offers row houses and villas. It comprises 438 units, including 321 villas. The unit cost of a row house in Pruksa Silvana is Rs 39 lakh, while the villas cost Rs 58 lakh for a 1,632 sq ft home. The project is located in Budigere, just off the upcoming six-lane Old Madras Road Highway.
Puriwaj Puricharoenborrirak, vice-president, India business, said Pruksa India Housing chose Bangalore because it is the most talked about city in India. “Bangalore has a forward-looking attitude, a population of various demographics and, most importantly, more than half the world trusts Bangalore for its software and the presence of some widely travelled people who will recognise quality when they see one. The encouragement and enthusiasm we witnessed here has given us the confidence to plan a couple of more projects not only here, but also in other locations in India,” he said.
The real estate company has a 50:50 joint venture in Mumbai and Chennai with Soham Developers and Mohan Mutha Infrastructures, respectively. Pruksa’s investment in Mumbai and Chennai will involve a total of $20 million and each project will have 500 residential units. Vijitpongpun said, “Pruksa’s entry into India is a major milestone for us, as it has always been our dream to be a part of this beautiful country.”
Pruksa’s chief executive officer Thongma Vijitpongpun said the real estate company has a land bank of 26 acres in Bangalore and 25 acres in Mumbai. “We are also studying Delhi as a prospective market,” he said. “We have already invested $10 million for our first project,” he added. “Demand for housing in India is strong and we think it’s a good investment for us.” S Mohan, assistant vice-president, India business, said, “We want to bring in luxury living at affordable prices in India.”
Pruksa has Asia’s biggest precast factory in Bangkok that can construct 260 houses in a month. “We hope to bring precast technology to India,” Mohan said. Pruksa India Housing’s first project in Bangalore, Pruksa Silvana, offers row houses and villas. It comprises 438 units, including 321 villas. The unit cost of a row house in Pruksa Silvana is Rs 39 lakh, while the villas cost Rs 58 lakh for a 1,632 sq ft home. The project is located in Budigere, just off the upcoming six-lane Old Madras Road Highway.
Puriwaj Puricharoenborrirak, vice-president, India business, said Pruksa India Housing chose Bangalore because it is the most talked about city in India. “Bangalore has a forward-looking attitude, a population of various demographics and, most importantly, more than half the world trusts Bangalore for its software and the presence of some widely travelled people who will recognise quality when they see one. The encouragement and enthusiasm we witnessed here has given us the confidence to plan a couple of more projects not only here, but also in other locations in India,” he said.
The real estate company has a 50:50 joint venture in Mumbai and Chennai with Soham Developers and Mohan Mutha Infrastructures, respectively. Pruksa’s investment in Mumbai and Chennai will involve a total of $20 million and each project will have 500 residential units. Vijitpongpun said, “Pruksa’s entry into India is a major milestone for us, as it has always been our dream to be a part of this beautiful country.”