Cable Corporation of India forays into real estate
Cable Corporation of India Ltd (CCI) has ventured into the real estate sector through its new venture CCI Projects Private Ltd (CCP) to set up its maiden project Rivali Park at Borivali East, opposite Sanjay Gandhi National Park, off the Western Express highway.
Spread over 22 acres with a planned investment of Rs1000 crore, Rivali Park is slated to be one of the largest mixed-use real estate developments in Mumbai. The luxurious township project is expected to transform the landscape of Borivali.
The project has been designed by Gensler, a reputed US based international architecture and design firm and is being managed by G:Corp, a leading player in the real estate arena in India.
According to Hiten Khatau, Chairman & Managing Director, CCI Ltd, "We see our venture as a natural progression from land owner to developer. We are focused on the development of real estate projects with intelligent design and a social conscience. Our ethos, build responsibly, signifies a commitment to developing projects that enhance our skyline, whilst ensuring secure and sustainable living."
Speaking about the project, Harjith Bubber, MD, CCI Projects Pvt Ltd said, "CCP’s maiden venture, Rivali Park has been conceived to bring natural living into an urban setting, challenging the imagination and aspirations of today’s home buyer. Our vision is to provide an overall experience all surrounded by beautifully landscaped grounds in an architecturally ‘future-proof’ development that becomes a destination and landmark in itself, putting Borivali on the map."
The project is conceived as a mixed-use development with various retail, commercial, hospitality, entertainment and cultural elements. The architectural form is modern with corresponding vertical landscape and will create a unique landmark in the district, reflective of a modern living experience.
The entire project is expected to be completed within 5-7 years in phases. The first phase is part of the residential development and is expected to be completed in the next two years. Thereafter other elements of the mixed use project would be taken up in the following phases.