Having already developed mixed use development Mega Project ‘Alphaone’ in Amritsar, now Real Estate player- Alpha G:Corp is planning to set up a state-of-the art Industrial park in Amritsar in an association with a local player. The developer intends to invest over Rs. 100 crore in the proposed park, spread over 135 acres.
The company has already submitted its project report to the Punjab government to be accorded as mega project and expects that the empowered committee on mega project would approve it soon.
"We intend to set up Industrial park in a joint venture with the local player. The proposed park would have back end support and would boast of all the key infrastructure like CTP(common treatment plant) for waste, 24 hour power back up, good road infrastructure etc. The proposed park provides an ideal location for the Industry as it is very well connected and close to the city, "said S K Sayal, Director & CEO, Alpha G:Corp while speaking to Business Standard.
He added that the park would help in attracting Industries to this bordering city. "We intends to invest over Rs. 100 crore in the project,"he said. The project is likely to be conceptualised in 18 months, once the approval from the state government is in place."
Further, betting big on Tier II and Tier III cities, the company has plans to develop commercial, residential and mixed-use development projects in North India over the next 5 years. The project would be partly funded by the company, land owner under the REAM( Real Asset Management) model of the company
In compliance with its plans to develop infrastructure worth Rs 5000 crore in the Northern region, the developer has completed and delivered residential projects under the brand name ‘Alpha International City’ in several cities and towns. Alpha G:Corp is also ready to hand over possession of ‘Alpha International City Fatehabad’ in a few months’ time. Plans are underway to develop a project in Ludhiana as well.
Also, the company is creating mixed used development project spread over 12.5 acres, 300 acres integrated township and Industrial Park(135 acres) in Amritsar, integrated township in Ludhiana(120 acres), mixed used development project in Meerut(18 acres) etc. For some of the projects the company has already acquired land by its own for the development, whereas in others it has also entered into agreement with the land owners for the development under the REAM model
It is worth mentioning that company’s business model entails undertaking of projects through acquisitions, joint venture development and Real Asset Management(REAM) that includes development and management. Currently Wynford Investment has 44 per cent stake in the company, Morgan Stanley(14 per cent), Sweet Homes(about 4 per cent), Management(12 per cent) etc. and rest by NRI and Sheth family.
