World · India Bureau
HoABL and Nitco partner on ₹4,500 crore Alibaug residential project
The real estate developers have joined forces to develop a 40-acre mixed-use property in the coastal Maharashtra town. The project will feature residential units, townhouses and a boutique luxury hotel.
LSN India ·
HoABL and Nitco have announced a strategic partnership to develop a major residential complex in Alibaug, with the combined project valued at ₹4,500 crore. The venture marks a significant expansion for both developers in the premium real estate segment along Maharashtra's coastal belt.
The 40-acre development will comprise multiple residential towers offering apartments and townhouses alongside a boutique luxury hotel component. The project is expected to cater to the growing demand for high-end residential properties in the region, which has emerged as a preferred weekend destination for Mumbai's affluent demographic.
Hotel and Real Estate Developers Limited (HoABL) will contribute approximately ₹1,000 crore as its investment commitment to the project. The partnership leverages Nitco's established presence in the region and HoABL's expertise in hospitality and real estate development across South Asia.
Alibaug has witnessed increased real estate activity in recent years, with developers focusing on luxury residential and hospitality projects that target the second-home market. The coastal town, located approximately 60 kilometres south of Mumbai, has become an attractive investment destination for premium property developers.