Apr 23 2015 | Press Release

Sobha Ltd. forays into a new segment in housing

´Sobha Dream Series’
Sobha Ltd. has launched one of its most distinctive projects, ‘Sobha Dream Acres’, the first of its kind under its new segment -‘Sobha Dream Series’ at Balagere, Bengaluru. This project is a unique residential development to cater to the aspirations of salaried professionals and perfectly suited to the requirements of nuclear families and those who prefer premium quality compact luxury homes replete with world-class amenities.

With a total developable area of 10.26 million square feet, ‘Sobha Dream Acres’ is spread on a total land area of 81 acres. It will comprise of 1 BHK and 2 BHK units with super built-up area (SBA) ranging from 650 to 1000 and to 1,200 square feet, with approximately 7,000 units, when fully completed. The project will have abundant green space for sports and recreational facilities as also natural lighting and ventilation.

Speaking on the occasion, Mr. Ravi Menon, Chairman, Sobha Limited said, “Delivering international quality products with unmatched precision, aesthetics and on time has been our forte. We have been doing this very successfully for the past two decades and shall continue to do so more remarkably in the future. Celebrating our commendable journey, we have now stepped into a totally new segment by launching our latest project, ‘Sobha Dream Acres’, which will carry SOBHA’s trademark international quality standards and workmanship. This project will be developed using cutting-edge integrated Precast technology employing best-in-class machinery imported from Germany and Italy installed at the project site. The execution of the project will be in-house as always, aligned with our ‘never compromise’ philosophy.”

Mr. J.C. Sharma, Vice Chairman and Managing Director, Sobha Limited said, “This new segment of ours, the ‘Sobha Dream Series’ is efficiently designed and targeted at the young professional looking for his/her first home. We are catering to the most demanding customer segment aspiring for premium homes. The project is attractively priced as well as smartly designed with specialized technology, meticulous planning and strengthened by our backward integration capabilities - enabling us to come up with this massive project (the biggest ever) without sacrificing any of the values SOBHA stands for. The project shall come up in 5 phases with 80 % open spaces. The ‘Sobha Precast’ plant erected at the project site is probably one of the largest and most modern set up catering to the large scale construction with unmatched quality and speed.”

‘Sobha Dream Acres’ is located in the midst of the four major arterial roads in the city – the Outer Ring Road (ORR), Marathahalli road, Varthur road and Sarjapur road – aptly termed the ‘Golden Quadrilateral’. It is situated at the best possible location, in the city’s fast-developing locality of Balagere and is most sought after. The project is not just ideally located in close proximity to the city’s IT corridors but also at a convenient distance from some of the good hospitals, schools, colleges, malls and recreation centres.

The Outer Ring Road (ORR) provides seamless connectivity between important commercial and residential destinations of Bangalore and is one of the most prominent catchment area for the project. The latest report from Colliers states that the existing working population in the ORR area itself is 2,70,000 and the expected addition of working population by CY 2020 is about 210,000 and projected cumulative area absorption (2015 - 2020) is 35 million sq ft. The upcoming Peripheral Ring Road is expected to be ready in 3-4 years and is expected to further improve connectivity to the locality.

A unique feature of this project which makes it different from our other projects is the use of Precast technology. The state-of-the-art ‘Sobha Precast’ plant will allow modular structures to be built and assembled with ease, by means of mechanization and thus help reduce delivery timelines. The technology is time tested, safer and environmental friendly and drastically reduces the number of processes involved in the construction methodology vis-à-vis conventional methods. This will help the project tobe competitively priced and optimally designed to suit different needs of the customers. The ‘Sobha Precast’ plant facility will also enable customers to ‘feel’ and understand the construction process of their dream home. The new technology comes in addition to our abiding commitment to timely delivery and the usual SOBHA precision at work.

About Sobha Limited (formerly Sobha Developers Limited):
Founded in 1995, Sobha Limited, a 25 billion company, is one of the fastest growing and foremost backward integrated real estate players in the country. It means that the company has all the key competencies and in-house resources to deliver a project from its conceptualization to completion. Sobha is primarily focused on residential and contractual projects. The Company’s residential projects include presidential apartments, villas, row houses, super luxury and luxury apartments and plotted developments. In all its residential projects, the company lays strong emphasis on environmental management, water harvesting and highest safety standards. On the contractual projects side, the Company has constructed a variety of structures for corporates including offices, convention centres, software development blocks, multiplex theatres, hostel facilities, guest houses, food courts, restaurants, research centres, and club houses.