Tribeca Developers announced plans for a mixed-use real estate project in Pune, featuring luxury apartments and retail spaces across 8 lakh square feet. With a projected revenue potential exceeding Rs 10 billion, the development will include two iconic towers and premium retail spaces. The project will be located in Lullanagar, near New Command Hospital at Pune Cantonment, spanning three acres of land owned by the Manikchand Group and Siddhivinayak Groups.

Tribeca Developers has entered a joint development agreement with Serianee Corrp, a conglomerate comprising Siddhivinayak Groups, Vision Skylish Group (VSG), and Kalash Properties. Tribeca, a licensed partner for the Trump Organisation in India, has a notable track record of delivering high-end real estate developments. The Pune project will mark a significant addition to the company's portfolio, contributing to the growing luxury residential market in the city.

In addition to this, Tribeca Developers is involved in multiple high-value projects across India. The company has recently finalised six new real estate deals in Pune, Gurugram, Noida, Mumbai, Hyderabad, and Bengaluru, totalling 8 million square feet and expected to generate over Rs 150 billion in sales. Tribeca is also developing more than 6 million square feet of branded residential projects, with a sale value of Rs 60 billion.

The Pune real estate market has seen a significant boom, with property registrations in 2024 increasing by 25 per cent to 190,025, compared to 152,323 in 2023. Revenue from property registrations also grew by 33 per cent, reaching Rs 70.98 billion. This growth is reflected in December 2024, where property registrations and revenue collections rose by 18 and 11 per cent, respectively, compared to December 2023.

News source: Hindustan Times