Ahmedabad: Alchemy Real Estate, real estate arm of the 107-year-old Vadodara-based Alembic Group of companies is all set to enter the Bengaluru real estate market with the launch of luxury apartment project ‘Urban Forest’ on Friday.
The company announced that its first project in this southern city would come up at Whitefield area. ‘Urban Forest’ would have 636 two and three bedroom luxury apartments spread out in four towers over eight acres of land with two acres of amenities and three acres of green space in a lush wooded gated community.
The Alembic Group has developed over 10 million square feet of land including integrated residential townships, schools, industrial plants, commercial offices and hospitals.
Speaking about its foray into Bengaluru, Udit Amin, president of Alembic’s real estate business said, “In a span of three years since our inception, we have been able to help transform living experiences through uncompromising quality, architectural excellence and intelligent design and look forward to doing the same in Bengaluru in the years to come.” The Bengaluru project would come up near Hope Farm Junction and just 2.5 km from the International Tech Park Bengaluru.
Alchemy has built two residential projects totaling over 900 residences in Vadodara, Gujarat, Shangri La and Samsara. Urban Forest residences have apartments ranging from 1314 to 1890 square feet.
The Bengaluru project would come up near Hope Farm Junction and just 2.5 km from the International Tech Park Bengaluru.
Alembic Group is one of the oldest industrial houses in India that traces its history to 1907. It has a diversified portfolio of businesses including pharmaceuticals, healthcare, glassware, engineering and chemicals. The Group's market capitalisation is Rs. 9,578 crore while its turnover is Rs. 2,200 crore.