Mumbai, May 19, 2022: Real estate developer Arkade Group today announced that it has launched two new housing projects in the suburban areas of Mumbai. The company has undertaken a total construction area of 7,81,753 square feet in these two projects, with the total plot size at 11,677 square metres, while the collective carpet area for sale stands at 2,65,524 square feet.
Arkade Crown, the first project with the plot size at 5,777 square metres, has been launched in Borivali (West). While the total construction area of this project is 4,01,075 square feet, the carpet area for sale is 1,09,733 square feet and the project will include total units for sale of this project is 123,
Similarly, the second project – Arkade Aspire – has been launched at Jaiprakash Nagar in Goregaon East. The total units for sale in this project is 228 and the total plot size stands at 5,900 square metres. While the total construction area is 3,80,678 square feet, the carpet area for sale is 1,55,791 square feet.
The Mumbai-headquartered Arkade is expecting a topline of Rs 820 crore from these two projects. While Arkade Crown is expected to fetch a revenue of Rs 350 crore, Arkade Aspire could add Rs 470 crore to the company’s topline.
Amit Jain, Chairman and Managing Director, Arkade Group, said, “We are happy to launch the two new redevelopment projects in the suburban areas of Mumbai, as demand for homes continues to remain upbeat. In the past too, we have executed several projects in the city and are confident that these new projects will also be completed as per the schedule time frame.”
Over the last four decades, the Arkade Group has developed more than 25 projects across the city of Mumbai. For instance, the Group had carried out redevelopment projects in Vile Parle, Goregaon, Malad, Borivali, and South Mumbai’s prestigious Carmichael Road.
Arkade Group, which is a zero-debt company, targets a sales turnover for the year ending March 2022 of Rs 450-500 crore, and plans to become a Rs 1,000 crore group in the next four years.