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Formula Group plans serviced apartments for expats in A'bad

The group is looking to provide hassle-free, ready-to-use services such as workspace at its incubation centre, serviced apartments for residential purposes

BS Reporter  |  Ahmedabad 

In a bid to tap expats as well as foreign communities setting up businesses in the state, Ahmedabad-based Formula Group is offering tailor-made facilities including serviced apartments and incubation centre in the city.

The group is looking to provide hassle-free, ready-to-use services such as workspace at its incubation centre, serviced apartments for residential purposes as well as fleet solutions with drivers. According to Raman Narula, managing director, Formula Group, the group is looking to provide the services not only to expats but also foreign communities such as Japanese and Chinese who are setting up base in Ahmedabad for business purposes.

"Looking at the growing expats community in Gujarat, we have opened an incubation centre where they can have a plug and play environment. The services are aimed at helping expats and foreign communities in starting their businesses in Gujarat on a fast track mode. With the fact that like Maruti Suzuki are setting up a manufacturing facility, there is a growing need for overall hassle free living and working experience," said Narula.

"We provide end-to-end solutions to ensure complete support system for coming from other parts of the world to Gujarat. We have tied up with local developers and condominium partners for leasing out 15-20 serviced apartments for our clients," Narula added. The group has so far invested around Rs 10 crore for offering the varied services.

The incubation centre provides diverse office solutions in conjunction with the requirements of the company, while giving entrepreneurs an unbeatable cost benefit. Guaranteeing a hassle-free business launch, it helps nascent blossom to their full potential. The centre will offer its patrons complete assistance from providing them with serviced offices and virtual offices to conference and meeting rooms, at the most competitive prices.

"The incubation centre in Ahmedabad has been introduced with the sole objective of fuelling the growth of developing organisations by providing them with holistic business solutions. Our pan-India presence in cities like Delhi, Gurgaon, Bangalore, Mumbai, Pune, Chennai and service centres in other cities will enable small firms to expand their presence. Our endeavour is to provide a fast track platform for companies to establish and grow their businesses in the state," Narula said.

Moreover, the group is also looking to provide fleet solutions for its clients. "From procuring driving license to renting out cars, business communities coming from outside the country have lot of hassles to undergo. To help them quickly adapt to the local environment, we are going to provide fleet solutions of cars along with drivers," Narula further stated.

Meanwhile, apart from the incubation centre, the group has also opened Cafe Formula, the first ever Japanese restaurant in Ahmedabad, which stands as testament to the strong relations between India and Japan. "A joint initiative between Tamura, the reputed Japanese restaurant chain and Formula Group, the Kappo style outlet serves delicious Japanese signature food, offering a friendly and lively environment conducive for business chats," Narula added.

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First Published: Wed, January 21 2015. 20:59 IST