HomeNewsOberoi Realty may venture into premium affordable segment

Oberoi Realty may venture into premium affordable segment

According to unconfirmed sources, Oberoi Realty is planning to venture into premium affordable segment where it finds huge potential. ORL is planning to launch its Thane project in premium affordable segment under “Oberoi Aspire” brand. Though the exact date of launch is not yet confirmed, it is expected that the company may launch the Thane project in the third quarter of next financial year.

Thane project is very crucial for the future growth of the company as both the region and segment are new to the company. ORL has been concentrating its activities mainly in Mumbai Metropolitan area and with Thane project it will be moving out of its area of dominance. If ORL successfully launches the Thane project under Oberoi Aspire brand, it would pave the way for the future growth of the Company in Thane as well as in premium affordable segment.

Also, it is interesting to note that overall Thane market is facing oversupply and there are significant supply and unsold inventory in the market. Further, ORL is expected to face stiff competition from established brands such as Tata Housing, Wadhwa Group and Kalpataru Group who have been in the Thane market over the last three-four years.

ORL is one of the leading real estate developers of Mumbai with a proven track record of more than 30 years and has developed over 42 projects across Mumbai metropolitan region aggregating about 11.89 million sq. ft. of spaces.

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