M3M to invest ₹2,100 cr in Jacob & Co's branded housing debut in India

M3M Group partners with luxury watchmaker Jacob & Co to build India's first branded residences in Noida, with an investment of Rs 2,100 crore and prices up to Rs 25 crore

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Gurugram-based developers M3M group on Thursday announced its collaboration with luxury watchmaker Jacobs and Co, to build the latter’s first branded residence in India for an investment of ₹2,100 crore. 

Spread on a six-acre site in Noida, the project would include 3, 4, and 5 BHK premium luxury residences, which would be priced between the range of ₹14 crore and ₹25 crore. 

According to people in the know, M3M had acquired the land through an auction by the Noida Authority.

 

“With apartments selling at ₹35,000 per square feet, this project would be the costliest launch in Noida to date,” the developer said in a statement. 

The development is expected to be completed within three years, with the project generating a topline of ₹3,500 crore. “The development in Phase-1 will deliver 150 residences, and approximately 100 ultra-luxury serviced residences will be delivered in Phase-2,” the companies said in a statement. 

The watchmaker currently has a branded residence project in Dubai, United Arab Emirates (UAE). 

Calling India an exciting frontier for luxury, Jacob Arabo, founder and chairman of Jacob & Co, said that the company sees a tremendous potential in this collaboration. 

“This partnership is not only about residences, it is about establishing a new benchmark for ultra-luxury living in one of the world’s most dynamic markets,” he added. 

This comes even as India has emerged as one of the fastest-growing branded residences market globally, ranking sixth in live projects and contributing 4 per cent to global supply of branded residences, stated Knight Frank’s ‘The Residence Report’. 

The country also ranks 10th globally in the pipeline of upcoming branded residence projects, accounting for 2 per cent of future supply among 83 countries that were surveyed. 

“This collaboration with Jacob & Co reflects our strategic focus on elevating the standard of luxury living in India,” M3M India’s promoter Pankaj Bansal said. 

This is not the first time that the M3M group and its related companies are delving into branded residences. Its sister company, Smartworld Developers, is working with Tribeca Developers to build Trump-branded residences in Gurugram.

 

With a portfolio of 57 projects, M3M group has completed 40 projects spanning 20 million square feet, while another 17 projects, covering 40 million square feet, are under construction.