The Mumbai-based real estate developer Godrej Properties Limited (GPL) (BSE scrip id: GODREJPRP), one of India's leading real estate developers, announced that it has partnered with Taj Hotels Palaces Resorts Safaris to develop a world class Taj brand hotel at its flagship project, The Trees, in Vikhroli, Mumbai. The Taj at The Trees will offer approximately 150 guest rooms and suites along with world class dining, entertainment, and conferencing facilities.
Situated in the heart of the city, Vikhroli is well connected to all of Mumbai's major transit points and business hubs. The Trees is located just off the Eastern Express Highway and offers connectivity to BKC through the Santacruz Link Road (SCLR) in just 15 minutes and to Fort through the Eastern Freeway in just 30 minutes. The future planned infrastructure in the city, including the bridge from Nava Sheva to Sewri and the proposed new airport, will further transform Vikhroli and the eastern belt into the central destination for Mumbai. The Godrej Group's landholdings in Vikhroli include a privately controlled mangrove reserve that is five times the size of London's famed Hyde Park offering residents the opportunity to live in the heart of the city while forever remaining deeply connected to nature and fresh air.
The Trees mixed-use development contains a commercial precinct spread across 9.4 acres, which houses Godrej One, the Godrej Group's global headquarters, which is now complete and is a testament to both the product design and quality that the Group intends to bring to the entire Trees development and a sign of Godrej's long term commitment to Vikhroli. The more private luxury residential precinct spread across 6.7 acres will house a community of residential buildings with private parks and an iconic clubhouse facility. The central mixed use precinct, spread over 9.2 acres, will comprise of a Taj hotel, a luxury residential project named Godrej Origins, cultural buildings, and a high street retail court. Adaptive reuse of heritage industrial structures within the development creates a unique and distinctive design and cultural experience. The Trees was awarded the Mixed Use Development of the Year award at the Asian Customer Engagement Forum (ACEF) Property Awards and received an Honor Award from the Boston Society of Landscape Architects. Godrej One, the first completed building within The Trees, received the Commercial building of the Year Award at the NDTV Property Awards 2015.
Godrej Properties has collaborated with several of the world's most renowned architects and engineering consultants to design this visionary project. Sasaki Architects, the master planners for The Trees, have developed several iconic projects including the Beijing Olympics Masterplan. Pelli Clarke Pelli Architects, the lead architects for Godrej One, are well known for designing architectural icons such as the Petronas Towers in Kuala Lumpur.
Godrej is leading the discourse in many areas that will shape the future of India through its cutting edge design thinking and deep and nuanced understanding of customer needs. The Trees is an example of the future potential of thoughtful urban planning in India. It goes far beyond delivering just a home or a workplace by combining a complete living experience and imaginative spaces to deliver brighter living for all its residents.
Continuing with the Godrej Group's legacy of environmental leadership, this development aspires to be among the most sustainable in the world. Cutting-edge engineering features appear throughout the master plan and building design to ensure that energy requirements are minimized and water is conserved. All structures within the development will be planned as LEED or IGBC Platinum rated, which are globally recognized as the highest rating of sustainable design. Godrej Origins, the residential development, that is now being opened for sale is IGBC Platinum pre-certified.
Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties said, "We are thrilled to partner with Taj to create a luxury hotel at our flagship project. Our endeavour is to make The Trees India's most exciting mixed-use development and this partnership is an important milestone towards that goal. We look forward to working closely with the Taj team to create a landmark hotel."
Mr. Rakesh Sarna, MD and CEO, Taj Hotels Palaces Resorts Safaris said, "We are very pleased to be associated with a group like Godrej, which is synonymous with trust, integrity and quality. We share their commitment of sustainable development and we look forward to bringing world-class hospitality to this great location."
Shares of Godrej Properties Ltd was last trading in BSE at Rs.430.9 as compared to the previous close of Rs. 424.5. The total number of shares traded during the day was 12246 in over 498 trades.
The stock hit an intraday high of Rs. 431.25 and intraday low of 423. The net turnover during the day was Rs. 5237153.