South Pune: Tribeca collaborates with Tricon to develop a 525 cr luxury housing project

Pune: As part of its development plan, Tribeca Developers has partnered with Tricon Infra Buildtech to create a premium housing project in South Pune with an investment of roughly Rs 525 crore. The Mumbai-based firm announced the launch of the 'YOO ONE' project on Thursday, in collaboration with Pune-based Tricon Infra. In this project, the two companies will build 286 flats in two phases.

"Tribeca brought Trump brand in India. We have now partnered with another global brand YOO for our new project," said Tribeca Developers founder Kalpesh Mehta, according to a PTI report. Tricon Infra owns 6.75 acres of property, and Tribeca is the project's development manager. YOO is a brand collaborator.

"The total project cost, including land cost, is Rs 525 crore," Mehta said. The cost of construction is projected to be Rs 450 crore. He said that the total investment will be covered by equity, loans, and advances from consumers against sales. According to Tricon's Managing Director, Brajesh Singh, the project will be finished in the following four years.

Tricon Infra has completed 35 projects as a contractor, but this is the company's first project as a developer, according to Singh. This will be the sixth YOO-branded project in India and the third in Pune. Sussanne Khan is the project's interior designer. There is a significant demand for luxury apartments in Pune, and he anticipates the new project's success.

Tribeca is currently working on approximately 5 million square feet of branded residential projects in India, with a total sale value of Rs 6,000 crores, and has a development pipeline of over 4 million square feet. "We have achieved a sales booking of around Rs 1,000 crore since April last year," Mehta said.