Dubai: Business conglomerate Wadia Group, which recently set up its real estate arm Bombay Realty, will showcase its flagship project for the non-resident Indian (NRI) community in Dubai at the Indian Property Show to be held here from 13-15 December, a company statement said.
The Group’s first fully integrated mixed use development in Mumbai—The Island City Center (ICC)— would be located in Dadar. Commenting on the project, Jeh Wadia, managing director, The Bombay Dyeing and Manufacturing Co. Ltd, said: “The Group has around 70 acres of land in the heart of the city. With the launch of mixed use project, ‘The Island City Center’ will cater to a lifestyle that allows its residents to live, work and play—all in one place.”
The project, spread across 29 acres, will host luxury residences, offices, a five-star hotel, serviced apartments, a high street, a mall, an international school and six acres of green landscape, he said. Durgesh Mehta, joint managing director, The Bombay Dyeing and Manufacturing, said luxury housing is emerging as one of the most vibrant and dynamic real estate segments in India. “The growing demand for luxury housing can be attributed to the rise in the number of HNIs (high net worth individuals), the rapid pace of urbanization, the influx of global lifestyle trends and fast-growing service industries...,” he said.