Real Estate

With precast tech, Sobha enters new segment

Anil Urs Bengaluru | Updated on January 24, 2018

Ravi Menon, Chairman, Sobha

Imports machinery for this technology from Germany, Italy

Real estate developer Sobha Ltd has forayed into a new segment targeted at salaried professionals and nuclear families with the launch of ‘Sobha Dream Series’.

The first project in the series, Sobha Dream Acres, is being implemented in Balagere, Bengaluru. With a total developable area of 10.26 million square feet, the project is spread over 81 acres.

“We are stepping into a totally new segment by launching our latest project, Sobha Dream Acres, which will carry Sobha’s trademark international quality standards and workmanship,” Chairman Ravi Menon said.

“For this new segment, the company is planning to utilise precast technology as this will allow modular structures to be built and assembled with ease, by means of mechanisation and thus help reduce delivery timelines,” he added.

The precast technology machinery is imported from Germany and Italy. “The execution of the project will be in-house,” said Menon.

The project consists of one bedroom (BHK) and two BHK units with super built-up area (SBA) ranging from 650 to 1,200 sq ft. Once completed, the project will have around 7,000 units.

JC Sharma, Vice-Chairman and Managing Director, Sobha, said the Dream Acres project is located in the midst of the four major arterial roads in the city – the Outer Ring Road (ORR), Marathahalli road, Varthur road and Sarjapur road – aptly termed the ‘Golden Quadrilateral’.

“It is situated at the best possible location.”

According to international property consultants Colliers, the existing working population in the ORR area is 2,70,000 and the expected addition of working population by 2020 will be about 210,000 and projected cumulative area absorption (2015 - 2020) 35 million sq ft.

The upcoming Peripheral Ring Road is expected to be ready in three-four years and is likely to further improve connectivity to the locality.

Published on April 22, 2015

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