Malabar Group plans pan-India expansion with property development projects worth Rs. 10,000 crore
New Delhi [India], Nov 11 (ANI): Kerala-based Malabar Group today announced its property development wing Malabar Developers' plan to develop commercial and residential properties worth Rs 10,000 crore across the country as part of its aggressive expansion plan.
ANI
Nov 11, 2016 20:33 IST
New Delhi [India], Nov 11 (ANI): Kerala-based Malabar Group today announced its property development wing Malabar Developers' plan to develop commercial and residential properties worth Rs 10,000 crore across the country as part of its aggressive expansion plan. The Group will raise funds from investors including the NRIs and banks to develop commercial clusters and integrated townships across India in the next five years. Malabar Developers also announced the signing of youth icon from the South Indian film industry Dulquer Salmaan as its brand ambassador. "We have prepared a roadmap to emerge as one of the biggest real estate players in the country by 2020 by developing commercial business clusters, shopping malls, convention facilities, affordable residential properties, technology hubs and integrated townships," said Group Chairman, M P Ahammed. "Our plan is to construct luxury villas and affordable budget homes across the main cities in the country in the next five years. We are in the process of tying up for joint ventures at the national level," he added. "Apart from being stylish and a highly talented and wholesome entertainer, Dulquer has a boy next door image. This exactly makes him the best brand face for Malabar Developers which wants to stay closer to the customers by providing the best in class and services," added Ahammed on roping Dulquer as brand ambassador. Malabar Developers currently has a land bank of 200 acres spread in three states more than two million square feet of ongoing projects and more than 16 million square feet of upcoming projects. What makes it different is that the Group has different verticals under the same umbrella to extend the entire range of services. As part of a package named `M-21,' the company extends as many as 21 services like privilege membership, housekeeping, interior designs, insurance, landscaping, organic farming, rental and sale services, travel desk, door delivery, medical clinic, electrical and plumbing services, community activities, health care, logistics, pest control, etc. `Mall of Travancore', a six lakh square feet sprawling retail space in Thiruvananthapuram, is nearing completion. The mall will have 200 outlets of international brands, apart from seven multiplexes. The inauguration of Malabar Marina Convention Centre, on the shores of river Chaliyar in Kozhikode, will take place by the end of this December. Apart from this, a township spread across 100 acres at Montan Estate will have signature bungalows, villas, spa resort, organic farming, landscaped gardens, fitness centre, wellness centre and club house, adjacent to the Group Head Quarters. The group, which has 9000 employees, spends five percent of its profit for CSR activities. It earmarks over Rs. 20 crore, every year for charity activities, in areas like education, health, women empowerment, environment protection and housing for the poor. The medical and housing charity under the Group has been given 100 percentage income tax exemptions for the donations under 35AC of the Income Tax Act 1961 by the Centre, making it one of the very few institutions to enjoy the status. (ANI)
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