Tribeca, Tricon to partner to build luxury housing project in Pune

Realty firm Tribeca Developers tied up with Tricon Infra Buildtech to build a luxury housing project in South Pune costing around Rs 525 crore, which forms a part of its expansion plan.

On Thursday the Mumbai-based company launched the project 'YOO ONE' in partnership with Tricon Infra. The two partners would be constructing 286 apartments under this project in two phases.

The price of an apartment will range from Rs 1.9 crore to Rs 3.6 crore. Tribeca Developers founder Kalpesh Mehta said that Tribeca brought the Trump brand to India. They have now joined another global brand YOO for their new project.

Tricon Infra has the ownership of the 6.75 acres of land, and Tribeca is the development manager of the new project. While YOO is a brand partner.

'The total project cost with the land cost is Rs 525 crore. The cost of construction is approximately Rs 450 crore. The total investment would be funded via equity, debt, and advances from their customers against sales.

Tricon Managing Director, Brajesh Singh said that the project would be completed in the up coming four years. Singh mentioned that Tricon Infra has executed 35 projects as contractors and this is their first project as a developer.

The project will be the third YOO brand third project in Pune and the fifth in the country. Sussanne Khan will be the interior designer for the project.

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