Mumbai Based Real Estate Development Firm AweSpace.Estate to Develop 350 Plus Luxury Villas

AweSpace Estate, a Mumbai-based real estate development firm, will construct over 350 ultra-luxurious residential retreats – villas and mansions – in India's most coveted travel destinations over the next two years.

AweSpace Estate, the company's real estate division, seeks to finance Rs 500 crore in order to develop more than 360 ultra-luxury properties in India's exotic locales in order to meet the rising demand for luxury travel experiences in India.

Approximately 150 acres of land will be developed during the first phase.

Under the brand name AweSpace.Estate, the company will develop a collection of fully-furnished villa estates and mansions in exotic locations throughout India.

These properties will be managed exclusively by AweSpace Ventures under its global product, Estate Leverage Asset (ELA), and will result in the creation of new direct and indirect employment throughout the country.

"Entering the real estate market represents a diversification of our investment strategy, with a focus on meeting the lucrative and growing demand for luxury vacation properties in India and abroad," said Vijay Naraayanan, co-founder and chief executive officer of AweSpace Ventures.

In its initial phase, AweSpace Estate will construct on approximately 150 acres of land in Goa, Alibaug, Lonavala, Shimla, Nainital, and Coorg.

The company has set a revenue target of Rs 2500 crore for the next two years and will raise Rs 500 crore for the development of large-scale, opulent ventures in phases. It intends to develop properties in the Maldives, Europe, Australia, and the United States during the second phase.

The demand for luxury villas in exotic locales has increased in India, according to Manali Khapre, director and chief sales officer at AweSpace Estate, who stated: