Ajmera Group announces first overseas project in Bahrain, four in London

Real estate developer Ajmera Group announced their first international project in Bahrain along with four other projects in London. The Group also aims to develop of a land bank of 2 mn square feet in India and around 1 mn square feet in the international markets. 

It has formed a strategic partnership with Mayfair Housing and formed  Ajmera Mayfair Realty Group to jointly invest Rs 14 bn into developing residential towers in Bahrain called Golden Gate. The two towers of Golden Gate (45 and 53 storeys) will comprise of  apartments across 1,40,000 square meters of built up space. Ajmera Mayfair Realty Group has collaborated with Kooheji Golden Gate (KGG), a local real estate developer. The project is spread across 1.45 million square meters of land reclaimed from the Arabian sea. The total investment in Bahrain is around Rs 21 bn, of which around Rs 14 bn is by Ajmera and the remaining by Mayfair. 

The London projects that comprise residential, commercial, affordable and student housing etc, would be completed within the next 24 months. Ajmera did not wish to disclose the investment for its London projects. 

The group also announced projects across Rajkot, Bangalore, Surat, Kutch and Mumbai as a part of their expansion plan this year.For the domestic market, Ajmera is launching residential projects in Rajkot, Bangalore and Mumbai. It has also firmed up plans to venture into the power sector and announced a 15 MW solar energy park at Kutch. Ajmera has so far delivered 28 mn sq ft of real estate space.