Company announces the launch of its operations through projects in Amritsar and Panipat, to invest Rs. 6000 crores over a period of 4 years
Amritsar, 12th Oct, 2011: India’s pioneering real estate centric private equity fund spreads its horizon into valuable housing by launching its first project Astrum Buena Vista in Amritsar (Punjab), a place that raised the bar of performance a notch higher each day thereby carving out a substantial niche for itself among other counterparts competing for the best. Astrum Homes is established to provide quality housing for the middle income segment in India. The company not only thrives to provide housing in India with the best international practices but also aims to serve the hitherto unserved markets, particularly in the Tier II & Tier III cities. Astrum has a legacy of an illustrious group of promoters; prime amongst them are Team FIRE Capital and The Related Group of the USA.
The project was launched in the presence of the Astrum Homes Board of Directors Mr. Om Chaudhry, Chairman & CEO of Astrum Homes; Mr. Jorge M Perez, Founder & Chairman of The Related Group; Mr. Michael B. Targoff, CEO of Loral Space & Communications Inc.; Mr. Jon Halpern, Managing Partner & CEO of Halpern Real Estate Ventures; and Mr. James J. Grogan, COO of International Capital Investment Company.
Speaking on the launch of Astrum Buena Vista, a project by Astrum Homes, Mr. Om Chaudhry, Chairman & CEO, Astrum Homes said, “We at Astrum Homes offer our customers value for their money by providing them world class amenities in our projects. As household income in Punjab is rising and people are looking for quality of life as available in metros, we are confident enough that we would be able deliver projects that will meet our customers’ expectations in the state. We thank the Government of Punjab for giving us full support to materialize this objective and give the people of Punjab the lifestyle they aspire.”
Mr. Jorge M Perez, Vice Chairman & Board of Director, Astrum Homes said, “India’s macro economy has been on a growth track over the last few years and is estimated to grow between seven and eight percent in the next ten years. Additionally, India is the world’s fastest growing and risk free economy and the Indian customers are getting accustomed to the better amenities as people in the US and Europe are. We will play a significant role in this leap and with the launch of Astrum Homes we would be able to cater to the masses in the country”.
Astrum Buena Vista would be a residential development with modern amenities and world-class architecture in the city of Amritsar. It has a project outlay of approximately Rs. 300 crores and a total built up area of 12 lakh sq.ft.
Astrum Buena Vista at Amritsar:
The project is spread over 31 acres of world-class residential development. It is developed in association with Gill Developers and Colonisers.
Site Location and advantages:
Astrum Buena Vista is strategically located on GT Road Bypass with a wide access road (100 ft.) approx. 750 meter off the National Highway – 1 (GT road).
It is situated within 15 minutes driving distance of Golden Temple & Jallian Wala Bagh.
The project is also easily accessible and well connected to International Airport and Railway Station and well connected to Wagah Boarder through GT Road Bypass.
Astrum Buena Vista, a project with an idyllic ambience and Mediterranean style architecture, has been designed by an international firm (Roger Fry and Associates) renowned for architecture and landscaping across USA.
The project is designed to provide all the comforts with a blend of modern architecture and rustic living.
It will be a professionally maintained, gated community with 3-tier security and world-class infrastructure.
It offers facilities like power back-up, neighbourhood shopping centre, commercial spaces, health centre, ample parking space, and sewage treatment plant, apart from a grand club house of approx. 15,000 sq ft with all indoor and outdoor sports facilities, gym, bar, banquet hall, etc.
Astrum Buena Vista offers to its residents services like launder mart, concierge services, housekeeping etc.
The project has more than 50% space open/green with beautiful landscaping and children’s play areas.
About Astrum Homes
Astrum Homes is an FDI funded India focused Home Builder, engaged in developing world-class residential solutions in emerging cities of the country. The company has been promoted by the management team of FIRE Capital in partnership with leading North American real estate investment and development firms, primary among which is the Miami based The Related Group. FIRE (First Indian Real Estate) Capital Fund is a pioneering Indian real estate centric private equity fund that has created five large format integrated township projects across India and is developing the same with an outlay of more than USD 1.5 billion or INR 7000 crores. Around 50 million sq ft is being put under world-class housing development across 1300 acres in different cities across India.
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