The real estate developer begins construction on its 35-acre development in Vikhroli.
Godrej Properties Ltd. (GPL) (BSE: GODREJPROP), the real estate development arm of the Godrej Group, today announced the launch of its mixed use project, The Trees, located in Vikhroli, Mumbai. At 2.8 million square feet, this is one of the largest real estate development projects in the city.
Based on the tenets of New Urbanism, The Trees seeks to offer its residents a commercially vibrant, aesthetically attractive, and pedestrian-friendly place to live, work, and play. Once completed, The Trees will house premium office space, residential towers, high-street retail and five star hospitality all centered around a large four acre landscaped park. Situated in the heart of the city, this development is well connected to several major transit points and business hubs. The Trees will be built in three phases starting immediately with the first commercial building.
The first building, on which construction has now commenced, is called Godrej One and will be one of India’s leading commercial buildings. The name Godrej One is symbolic: not only is this building step ‘one’ of Godrej Properties’ large ambitions for this development, it is also the physical space that will bring various Godrej Group companies under ‘one’ roof. Of a total area of 750,000 square feet in Godrej One, 250,000 square feet will be used as the headquarters for several Godrej Group companies, while the remaining 500,000 square feet will be leased to external tenants.
Continuing with the Godrej Group’s legacy of environmental leadership, this development aspires to be among the most sustainable in the world. Cutting-edge sustainability features appear throughout the master plan and building design to ensure that energy requirements are minimized and water is conserved. Godrej Properties has applied to have Godrej One certified as LEED-Platinum, which is globally recognized as the highest rating of sustainable design.
Godrej Properties has collaborated with several of the world’s most renowned architects and engineering consultants to design this visionary project. Pelli Clarke Pelli Architects, the lead architects for the master plan as well as for Godrej One, are well known for designing architectural icons such as Petronas Towers in Kuala Lumpur, International Finance Center 2 in Hong Kong, and Bloomberg Headquarters in New York City. Larsen & Toubro (L&T), India’s leading construction company, has been chosen to construct Godrej One.
Godrej Properties is developing this project in joint venture with two Godrej Group companies; Godrej Industries and Godrej & Boyce.
Mr. Pirojsha Godrej, Executive Director, Godrej Properties said, “We are excited to be starting our first development in Vikhroli. At every stage we have sought to showcase the highest standards of design excellence in Godrej One and we expect it to be a dynamic setting for our own Group companies as well as for our commercial tenants. We are looking forward to working with L&T to ensure that Godrej One is completed quickly so that we can move on to launching the subsequent phases of this exciting development.”
About Godrej Properties Ltd.:
Established in 1990, Godrej Properties Limited (GPL) brings the Godrej Group philosophy of innovation and excellence to the real estate industry. GPL aspires to be among India’s top three real estate companies while continuing to be the most trusted name in the industry. GPL has completed several landmark projects and is currently developing significant projects in 11 cities across India. Throughout its operations, GPL aims to deliver superior value to all stakeholders through extraordinary and imaginative spaces created out of deep customer focus and insight.
Godrej Properties Ltd. is listed on the Bombay Stock Exchange (BSE) and The National Stock Exchange (NSE).
GPL has received several recognitions for its processes and performance which include receiving the ‘Best Business Practices’ award for the year 2009 and ‘Corporate Governance of the Year, 2008' award from Accommodation Times. GPL has also featured as the #1 ranked real estate developer for 2 consecutive years (2009 and 2010) in 'India’s Best Companies to Work For’ survey, conducted by ‘The Economic Times’ and ‘The Great Place To Work Institute’. GPL has been featured for 5 consecutive years as one of “India’s Top 10 Builders” by Construction World magazine.
