By Kailash Babar

Copyright indiatimes

TIL CreativesHiranandani Communities to develop four 5-star hotels in Alibaug

Mumbai: Realty developer Hiranandani communities is in talks with institutional investors and hospitality companies to develop and operate four luxury 5-star category hotels in beach town Alibaug near the country’s financial capital Mumbai, said Managing Director, Niranjan Hiranandani.These 5-star properties and a beachside hotel will be developed as part of its integrated township spread over 225-acre in the coastal town. The company is planning to invest over Rs 5,000 crore to develop the new luxury township over the next 10 years.“We are in talks with six partes including investors and hospitality brands right now. Our plan is to put five hotels in Alibaug and four of these will be under the 5-star category. We are aiming to get these hotel properties operational within five years of concluding deals,” said Hiranandani.The company is in discussion with both global and leading Indian brands for an alliance with respect to these hotel properties, he said. while adding the company expects the country’s largest coastal destination township to fetch revenue of Rs 17,000 crore.The developer has already sold over 330 apartments worth Rs 450 crores as part of the township’s first phase spread over 3.3 million sq ft. The entire project is envisioned as Mumbai’s lifestyle extension hub, with luxury homes, villas, plotted developments, and branded serviced apartments.Live EventsSeparately, Hiranandani also said he is exploring the possibility of taking the entire company public through an Initial Public Offer (IPO). However, the company has finalised any modalities yet. This will be Alibaug’s first private township, offering residents a personal beachfront and private jetty access. The company will also start one of the biggest water sports hubs here by the end of this year. The township will include a portfolio of these five hotels across luxury, business, and leisure segments, a convention centre, beachside entertainment, and a global-style yacht club, he said.Given its proximity to the country’s commercial capital, Alibaug has emerged as the new hotspot for real estate activity. The government’s initiatives aimed at improving connectivity between Mumbai and Alibaug are catalysing real estate development in the area, elevating its appeal among developers, homebuyers and investors.The Maharashtra government’s focus on enhancing connectivity to Alibaug is laying a strong foundation for its transformation into a sustainable tourism and lifestyle-led real estate hub. Key projects including the extension of the Ro-Ro ferry from Mumbai’s Ferry Wharf to Revdanda, the proposed Radio Club Jetty at Colaba, the Karanje-Rewas Sea Bridge, the Vira-Alibaug Multimodal Corridor, along with Atal Setu and the Navi Mumbai International Airport.These upgrades are expected to significantly increase footfalls and investments, firmly positioning Alibaug as a major growth corridor across the Mumbai harbour.Hiranandani Communities has three operational mega townships at Powai, Panvel and Oragadam, Chennai. The company has so far delivered 35 million sqft of residential and 15 million sq ft of commercial spaces in urban townships across Mumbai, MMR and Chennai.Add as a Reliable and Trusted News Source Add Now!
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onHiranandani CommunitiesHiranandaniMaharashtra governmentNavi Mumbai International Airportniranjan hiranandaniluxury townshipAlibaugbeachside hotel(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless