Real estate developer Omaxe Group has launched a new initiative, “BeTogether,” with an initial investment exceeding ₹2,800 crore. This ambitious project aims to revitalize India’s urban areas through collaborative real estate developments, including Joint Developments (JDs), Joint Ventures (JVs), and Public-Private Partnerships (PPPs). BeTogether will focus on transforming underutilized land into thriving residential and commercial hubs, particularly in Tier 2 and Tier 3 cities.
The initiative is led by Rohtas Goel, Mentor and Chairman of Omaxe Group, along with Mohit Goel, Managing Director, and Jatin Goel, Executive Director. BeTogether’s core philosophy centers around PPPs, aligning with government initiatives and urban planning goals to address infrastructure challenges and deliver projects that benefit communities.
BeTogether is committed to several key areas:
- Reviving Stalled Projects: Leveraging its expertise and resources, BeTogether will work to revive incomplete real estate projects, restoring confidence among homebuyers and investors.
- Focus on Tier 2 and Tier 3 Cities: BeTogether aims to bridge the urban-rural divide by developing smarter, greener communities in these cities, unlocking their economic potential.
- Sustainable and Inclusive Development: The initiative emphasizes sustainability and inclusivity, creating integrated communities that blend tradition with modernity and ensure benefits are widely distributed.
Key Insights:
- Diversification and Growth: The launch of BeTogether signifies Omaxe Group’s diversification into new real estate development models, potentially opening new revenue streams and driving future growth.
- Focus on Collaboration: The emphasis on JDs, JVs, and PPPs highlights the growing trend of collaborative development in the Indian real estate sector. This approach can enable the efficient utilization of resources and expertise.
- Addressing Infrastructure Gaps: By actively engaging in PPPs, BeTogether can contribute to bridging infrastructure gaps in India, particularly in Tier 2 and Tier 3 cities. This can have a positive impact on economic growth and development.
- Boost to Investor Confidence: BeTogether’s commitment to reviving stalled projects can help restore investor confidence in the real estate sector, attracting further investment and stimulating growth.
Investment Implications:
- Positive Outlook for Omaxe: BeTogether’s ambitious plans and significant investment could positively impact Omaxe Group’s future performance and investor sentiment.
- Growth in Tier 2 and Tier 3 Cities: Investors should consider the potential for increased real estate activity and economic growth in Tier 2 and Tier 3 cities, driven by initiatives like BeTogether and government infrastructure development programs.
- Opportunities in PPPs: The focus on PPPs may create new investment opportunities for companies with expertise in infrastructure development and collaborative projects.
