To build ‘ELIE SAAB’ branded housing project in M3M NCR Rs. 3,500 crore will be invested

Realty firm M3M India on Tuesday said it has signed an agreement with global fashion and lifestyle brand ELIE SAAB in Delhi-NCR for a total of Rs. has partnered to develop two ultra-luxury housing projects with an investment of Rs 3,500 crore.

M3M India will build 300 apartments in Gurugram, while its group firm SmartWorld Developers will build around 650 flats in Noida.

M3M India Group is partnering with luxury brands to boost sales of its properties.

The company has completed a housing project in Gurugram under the ‘Trump’ brand. In October last year, it tied up with globally renowned luxury brand Jacob & Company for a project in Noida.

“We have partnered with ELIE SAAB for two branded residential projects in Delhi-NCR,” M3M India promoter Pankaj Bansal told reporters in Gurugram.

ELIE SAAB Group Vice Chairman and CEO ELIE SAAB Jr. said the group entered branded residences in 2019 with its first project in Dubai. He has done more than 25 real estate projects globally so far.

ELIE SAAB is entering India in partnership with M3M Group to deliver unique properties, he said, adding that the group is bullish in the Indian market.

“We will come up with a ready-to-wear store in Delhi,” said ELIE SAAB Jr., adding that the size of the store could be around 3,000-4,000 square feet.

He did not give a timeline for opening the store.

Elaborating on the two projects named ‘Signature Residences by ELIE SAAB’, Bansal said the company has invested around Rs. 2,000 crore with a total investment of 300 premium homes will be developed.

The company will construct an area of ​​1.3 million square feet in this project.

The company is selling houses in Gurugram at Rs 37,000 per sq ft. Its starting price is Rs 15 crore.

In the 6-acre project in Noida, Bansal said the company will spend a total of Rs. 1,500 crore investment will develop around 650 units. The total developable area is 1.2 million square feet.

Company in Noida about Rs. 33,000 per sq ft will sell the flat. 200 large houses in Noida will cost Rs 9-12.5 crore while 450 serviced apartments will have a starting price of around Rs 3 crore.

M3M India is one of the leading real estate developers in North India. It has presence in Gurugram, Noida and Panipat.