Hyderabad (Telangana) [India], May 22 (ANI/BusinessWire India): South India's largest real estate developer, Urbanrise (an Alliance Group company) today announced that the company has acquired 15 acres of residential land parcels at Nizampet, Hyderabad. The company is all set to develop 4.8 million sq. ft of world-class high-rise residential community in the city, earmarking investments of Rs. 1,925 Crores, that has an estimated revenue potential of Rs. 3,400 Crores to the organization.
Urbanrise stands tall in the city with its flagship projects like On Cloud33, The World of Joy, The Happening Heights and Spring is in the air, that are developed with world-class infrastructure and best-in-class amenities. The new acquisition exhibits the organization's objective of consolidating its position in the market and the distinction of the potential this market offers in terms of premium residential projects. This new project, that is all set to be developed, will house the best of architecture and finesse along with world-class amenities and unique facilities that the city has never seen before.
The organization is aggressively looking at expanding its market share in the golden triangle - Bangalore, Hyderabad & Chennai that it currently operates in by launching new projects.
Commenting on this, Suneel Bommireddy, Vice Chairman of Urbanrise and Alliance Group, said, "Hyderabad is the key city in our Golden triangle and a strategic market for our organization's growth plans. The trust reposed by the customers in our projects gives us a sense of satisfaction as well as makes us optimistic to expand our presence in the market by bringing in newer projects in Hyderabad. We are committed to providing the discerning Hyderabad customers with world-class residential projects with futuristic amenities."
"We will continue to garner the trust and confidence of our customers by providing them high quality homes at great locations," added Bommireddy.
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