The Kochi-based residential developer Asset Homes has formed a partnership with Taurus Investment Holdings, a global real estate private equity investment and development firm based in Boston for joint development and investments.
Taurus has made over $10 billion (₹82,000 crore) in investments spanning more than 70 million (7 crore sq ft) of assets globally.
Erik Rijnbout, Global President, Taurus Investment Holdings, said his company’s decision to partner with Asset Homes is based on the Kerala builder’s well-established systems in place, corporate governance, high-quality products, innovative ideas and growth prospects.
“Taurus Investment Holdings and Asset Homes are forming a partnership 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.
Sunil KumarV., Founder and Managing Director of Asset Homes claimed that, it for the first time, a Kerala-based realty company has attracted foreign direct investment. Asset Homes has completed seven housing projects in the calendar year 2022. As many as 450 housing units were built, covering around 6 lakh sq ft.
He also outlined a 3-year mega initiative - Mission Centennial - with 100 initiatives culminating with the completion of the 100th project by November 2025.
In addition, 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. The company will also launch two mega township projects at Kochi and Thiruvananthapuram.
The company is looking at a geographical expansion outside Kerala and explore overseas markets. It company will start two housing projects in Dubai in 2023. Plans are also afoot to start projects in Karnataka, Tamil Nadu and Odisha in 2023, he said.
Asset Homes will enter into super-premium, uber-luxe projects with global luxury amenities and five-star hospitality services in prime locations in association with JGT, the real estate wing of the hospitality group CGH Earth. The first phase will see such projects in Kochi, Kottayam and Thrissur, he added.