BENGALURU, October 12, 2017 /PRNewswire/ --
Single Level Unit of the Four Seasons Private Residence at Embassy ONE Bengaluru sold for Rs. 50 Crores
Luxury living has a new price tag in Bengaluru, with the leading developer Embassy Group closing the sale of one of its iconic branded Private Residences, at its flagship luxury Integrated development - Embassy ONE.
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The 30th-floor single level unit of the new Four Seasons Private Residences at Embassy ONE has been sold for a record-breaking Rs. 50 Crores, the highest price ever fetched for a branded residence in South India. The buyer who spends a considerable amount of time overseas has chosen to remain anonymous and Embassy Group, as part of their buyer's confidentiality privacy policy, would not be disclosing the name.
Located at the gateway to North Bengaluru, the sale of this spectacular 16,000 sq ft 30th floor residence is now on par with prices in the ultra-luxury market segments in Mumbai and NCR. Bengaluru is among the top three cities to have witnessed unprecedented growth in demand for ultra-luxury homes in the last two years. The year-on-year growth of ultra-luxury homes in the city is at an all-time high and the estimated total value of ultra-luxury housing projects in various stages of construction in Bengaluru are valued at Rs 6,000 Crores. (source: JLL report)
Developed by Embassy Group, Embassy ONE houses lifestyle residences representing exquisite engineering, cutting-edge design and dedicated service matching international standards. India's first Four Seasons Private Residences in Bengaluru, are a part of this marquee destination.
Reeza Sebastian, Senior Vice President, Residential Business, Embassy Group said, "We are elated to have sold Bengaluru's most expensive residential property. Luxury homeowners are more specific about the legacy of brands, quality of construction, the promise of delivery and re-assurance of continued impeccable levels of service. The Embassy Group, Four Seasons Hotels and Resorts and Blackstone being leaders in their own spaces, have recognized these aspirations of residential homebuyers and partnered to create this coalescence of 109 iconic homes that are among the most desirable in the city. Embassy ONE is the emergence of an elevated, integrated lifestyle."
The community of private residence owners at Embassy ONE span across industries and countries and represent a niche lifestyle desired by many, but acquired by only those with a true penchant for world-class hospitality within the comforts of their curated luxury homes.
James Price, Vice President, Residential, Four Seasons Hotels and Resorts said, "The sale speaks of the value and benefits that Four Seasons brings as a brand, and is a vote of confidence in the project. We are excited to have partnered with the Embassy Group to create this remarkable lifestyle opportunity in one of the fastest growing cities in the world - Bengaluru."
About Embassy
Embassy is one of the leading property developers in India with a track record of over three decades in real estate development. Embassy has an extensive land bank across the country and has developed over 40 million sq. ft. of prime commercial, residential and retail space in India as well as Malaysia and Serbia. Embassy's portfolio of real estate developments spans the commercial, residential, industrial & warehousing, retail and hospitality segments of the real estate industry. The commercial real estate business includes the development of business parks, and ten SEZ across South India including India's first and only IGBC Platinum Certified Business Park Campus. Embassy Office Parks are estimated to have generated over $20bn in exports under the STPI and SEZ schemes, since inception. Embassy's ongoing residential projects include luxury apartments, villas and integrated townships. Embassy's residential projects are also designed to obtain IGBC Green Homes gold ratings as part of the efforts towards creating sustainable developments. More information at http://www.embassyindia.com.
Media Contact:
Sowmya Shenoy
[email protected]
+91-9663915782
PR and Media Relations Officer
Embassy Group
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