New Delhi: Realty firm M3M India on Thursday said it will invest Rs 2,100 crore to develop Jacob & Co-branded ultra-luxury homes in Noida as part of its expansion plan.
In a statement, the company announced the launch of 'Jacob & Co. Residences, Noida'.
Jacob & Co. is a globally renowned luxury brand, celebrated for its high-jewellery timepieces and extraordinary craftsmanship.
This will be the first housing project in India under the Jacob & Co. brand.
Jacob Arabo, Founder & Chairman of Jacob & Co, was present for the launch.
Gurugram-based M3M Group, which is developing two Trump-branded ultra luxury housing projects, will invest Rs 2,100 crore to develop this 6-acre project.
The company is expecting a total revenue of Rs 3,500 crore from this upcoming project to be delivered in the next three years.
The company will sell luxury premium residences in a price range of Rs 14-25 crore.
M3M Group will develop 150 residences in the first phase and about 100 ultra-luxury serviced residences in Phase II.
M3M India Promoter Pankaj Bansal said, "This collaboration with Jacob & Co. reflects our strategic focus on elevating the standard of luxury living in India." "At Jacob & Co., we have always believed in pushing boundaries of design, innovation, and experience. India represents an exciting frontier for luxury, and we see tremendous potential in this collaboration," said Jacob Arabo, Founder & Chairman, Jacob & Co.
This partnership is not only about residences but establishing a new benchmark for ultra-luxury living in one of the world's most dynamic markets, he added.
M3M group has completed 40 projects spanning 20 million square feet, while another 17 projects, covering 40 million square feet, are under construction.
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