Alpha G:Corp Development Private Limited (Alpha G:Corp) today announced it will undertake two new residential projects in NCR of an estimated outlay of approximately INR 525 crores.
Mr. Ashish Sarin, the newly-appointed Director and CEO of Alpha G:Corp disclosed that the company would come up with a premium housing project in the well-established Sector-15 of Gurgaon and an affordable housing project in Sector-84, Gurgaon, close to the Dwarka Expressway. He added that with the economy showing signs ofrevival at the macro-level, it is only a matter of time before the real-estate sector picks up.
“The new projects are poised to capitalise on the imminent market recovery,” said Mr. Sarin,referring to the ongoing policy reforms by the government. The relaxation of the Foreign Direct Investment (FDI) norms, introduction of Real Estate Investment Trusts (REITs) and promoting public-private partnership (PPP) in developing infrastructure would boost the realty sector further.
“The market response to our premium developments has been encouraging. This has motivated us to come up with a similar proposition in Sector-15. However, it would be our first venture in the affordable housing segment which in the wake of Government’s proposition of providing housing to all by 2022, seems promising.” said Mr. Sarin. The company is also looking to foray into the development of serviced-apartment market in Tier-2 and Tier 3 cities which is currently under-served.
The company’s flagship project, GurgaonOne 22, located in Sector-22 is a premium housing project. A similar project is well-on-its-way in Gurgaon Sector-84 on the Dwarka Expressway, apart from other township projects in Meerut, Karnal, Chandigarh, Ludhiana and Amritsar. Besides residential projects, the company’s retail developments in Amritsar and Ahmedabad under the brand AlphaOne are recognised amongst the finest and the largest retail establishments in the country.
Prior to his appointment as the CEO, Mr. Sarin was the Chief Finance Officer and ExecutiveDirector, Finance, Operations and Legal functions at Alpha G:Corp. His predecessor, Mr. S K Sayal, resigned recently to pursue other interests. Mr. Sarin envisions enhancing the scale and size of the company’s operations by bringing out an Initial Public Offering (IPO) in the coming few years. Exploring new opportunities while adhering to Alpha G:Corp’s strengths of timely and quality delivery along with ethical business practices across all verticals will remain the key focus of the company’s strategies.
Alpha G:Corp is an FDI-funded developer backed by marquee foreign investors such as Morgan Stanley. The business model followed by the company entails undertaking projects through Acquisition, Joint Venture Development and Real Estate Asset Management (REAM). Alpha G:Corp pioneered the concept of REAM in India, the essence of which is creating a transparent and mutually beneficial platform for the landowner and the developer. Other policies, such as employing escrow accounts, for all their projects, ensure that the money a buyer invests is not transferred elsewhere, negating credibility issues for the customers. Highly respected for its business practices, Alpha G:Corp is nurtured by a constant emphasis on transparency and reliability which is the foundation of all its systems and procedures.
The management’s collective reputation as a professional, quality-focused developer of landmark projects has led to it being recognized on several national and international forums. The company has received several awards and accolades for its industry best-practices which include the RICS-Zee Award, being adjudged as one of the best developers in India. GurgaonOne 22 and AlphaOne in Amritsar have been recognised by CREDAI (Confederation of Real Estate Developers Association of India) and CRISIL (Credit Rating and Information Services of India Limited) as the best developments in northern India in the residential and commercial categories, respectively.
Find our more about Alpha G:Corp on their website