India’s Shapoorji Pallonji in Dubai property debut
Conglomerate, which has a long history as a contractor in the Gulf, is set to build first development project outside India
Shapoorji Pallonji’s property arm plans to build a 45-storey tower in Dubai, in what will mark its first real estate development outside of India.
The Indian conglomerate – which has decades of experience as a contractor in the Arabian Gulf – plans to build the Imperial Avenue project in the Downtown Dubai district.
Developed by Shapoorji Pallonji (SP) International Property Developers, the project will be “testament to the company’s long-term commitment to the Middle East”, a statement said.
The tower is set to have 424 “luxury” units of between one and five bedrooms, with five levels of parking. It will also consist of a 10,000 sq. ft. lobby, rooftop infinity pool, fitness centre, squash courts and private function hall.
The move comes off the back of Shapoorji Pallonji’s 45 years of experience as a contractor in the Middle East, working on projects such as Rove Hotels and Mudon Villas.
Rayomand Dastur, Director of Sales and Marketing at SP International Property Developers, said: “We are very excited to move into the real estate sector as property developers in the region. Shapoorji Pallonji is a well-known name in India, a century and a half old company that is recognised for its trust and reliability. We want to bring these very characteristics to investors here by delivering beyond expectations and without compromising on the quality that our clients have come to expect from us.”
SP International Property Developers has “long-term development plans to support the region”, with projects planned in countries such as the UAE, Saudi Arabia and Kuwait, the statement said.
