Buyers swarm to L&T Realty's Navi Mumbai luxury project
The real estate business of Larsen & Toubro, the Indian multinational engineering, procurement and construction company, has launched North Towers at its luxury residential project – Seawoods Residences in Navi Mumbai.
In a statement, the company says that the project has drawn strong interest from homebuyers, with more than 300 expressions of interest registered within the first two weeks. This follows on from a strong performance in 2019, when 500 apartments within the project were sold out in record time.
L&T Seawoods Residences is part of India’s first Transit-Oriented Development (TOD) – Seawoods Grand Central. Conceptualised on the lines of the world’s best TODs, Seawoods Grand Central is considered to be the new epicentre of Navi Mumbai as it features Mumbai’s most popular shopping mall, as well as large office spaces on the campus, all of which have been instrumental in drawing customers to Seawoods Residences, L&T says.
The residential project, close to the Seawoods Grand Central Mall, is also near the railway station and upcoming Navi Mumbai International Airport. Covering 10 acres, the project is considered a premium development with prospective residents accessing a gated community with several facilities – including a 20,000sqft, bi-storey state-of-the-art clubhouse.
The project also contains a 3.5 acre landscaped garden at the podium level, which features a jogging track and an open-air amphitheatre, a statement says.
“We are encouraged by the response to the launch of the North Towers at our L&T Seawoods Residences in Navi Mumbai. This reaffirms that there is always a demand for quality product and a brand like L&T that invokes trust," says Shrikant Joshi, CEO and managing director of L&T Realty.
“Dependability, committed delivery timelines, steady pace of construction together with a unique project concept are fuelling demand for North Towers,” he adds.
Joshi explains that intensive market research to assess customer needs and aspirations in the micro-market has led to meticulous product planning and design for the North Towers at Seawoods Residences, with the towers consisting of a mix of two-bedroom and three-bedroom apartments, which are in demand by the market currently.
In addition, he points out that the apartments have been planned to ensure that ample sunlight and ventilation is available within, which is also a reflection of changing market dynamics, he says. The landscape design of Seawoods Residences also ensures the optimal utilisation of open spaces and greenery, he adds.
Global architectural and consulting firm Woods Bagot, Hong Kong, drew up the architectural concept of the project, while the landscape elements have been designed by WAHO, the international landscape architects.
The popularity of L&T Seawoods Residences proves that notwithstanding the tough business environment, brands that have the right product mix, are committed to delivery timelines, backed by a brand name that invokes customer goodwill, will also be market leaders, Joshi concludes.
Skanska secures $84m Portland Airport upgrade contract
Skanska's share of the contract amendment is worth US$84M, which will be included in the US order bookings for the second quarter.
The amendment includes work on the Terminal Core Expansion project, comprising structural, mechanical and electrical work and enclosure. Construction is underway and scheduled for completion by 2025.
With annual travelers expected to climb to 33 million by 2045, the Terminal Core Redevelopment project is a vital expansion that ensures PDX will be able to serve the community well into the future.
Hoffman will install a new 9-acre large-span roofing system over the entire terminal core complex, build a 150-foot multi-floor addition between Concourses C and D, and add new pre- and post-security concessions.
The renovated passenger entry terminal will double the size of the current ticketing and lobby area when it opens in 2025. It is also replacing 16 old passenger boarding bridges plus equipment throughout the PDX concourses. Gate count is critical for PDX operation, so the team must coordinate with each airline to replace one bridge at a time. In addition, Hoffman is rebuilding and enlarging Concourse B. The project is targeting LEED Gold.
Skanska USA recorded sales of SEK66 billion in 2020 and has about 7,600 employees in its operations.
In other recent developments:
- Skanska has sold an elderly care home in Sollentuna outside Stockholm, for about SEK280M, to Altura and lease agreements have previously been signed with Nytida and Vardaga.
- The group has also divested a residential project consisting of rental apartments, senior apartments and a home for people with special needs in Malmö, to Bantorget Hyresbostäder for SEK300M.
- Skanska has joined the climate initiative Leadership Group for Industry Transition (LeadIT) that gathers countries and leading companies committed to action to achieve the Paris Agreement.
- Skanska has, through Cementation Skanska, signed a contract with the Skanska Costain STRABAG joint venture for major piling works for the London Tunnels section on the HS2 high speed railway.