Vibe Realty, a realty venture founded by Gopal Sarda, has acquired four projects across the western suburbs of Mumbai, namely, Khar West, Bandra East, Goregaon West, and Andheri East. This marks Vibe Realty’s strong entry into the real estate development segment with three residential redevelopment projects and one commercial project estimated to have a cumulative development potential of 1.5 million square feet, sales potential of 0.9 million square feet and revenue potential of Rs 1,500 crore.
These projects are slated to be launched in the subsequent quarters starting Q4 FY23. In addition, Vibe Realty targets maintaining the growth momentum as a real estate developer by looking to add 3-4 projects under redevelopment, outright purchase, and JV/JD structures in prime locations across Mumbai and Pune in the next 12-15 months.
On the back of its previous achievements, wherein the company successfully instituted nine projects aligning with various developers under its capital to consumer (C2C)/development management (DM) model, the company now plans to leverage the brand equity of its founder and two years of operations as a service provider, to create strategic growth opportunities.
Gopal Sarda, founder and CEO, Vibe Realty, said, “Marking the second anniversary of our business, we look forward to building on the focused initiatives undertaken over the last two years that has made us a recognisable brand in the operating ecosystem of the real estate sector. Expanding our horizon from a service provider to a developer, we will be in the unique position of providing a complete, 360-degree perspective to all our stakeholders.”
