SmartOwner strengthens offering, announces launch of Ultra-luxury apartments in Bangalore

Dec 2, 2020 | Business

SmartOwner, Asia’s fastest-growing real estate investment marketplace, today announced plans to strengthen and expand its offerings in the ultra-luxury home segment, to cater to growing demand for large spacious homes. SmartOwner announced its foray into the ultra-luxury home segment with the launch of The Treeline, limited-edition, ultra-luxury apartments in Jakkur plantation in Bangalore, by its development management wing Prime One Corp. The Treeline is an addition to SmartOwner’s two other ongoing projects – Centreo on Kanakapura Road and Beverly Woods, off Sarjapur Road, in the luxury apartment and villa segments, respectively.

Blue-printed by Jeff Kiser, an acclaimed US based architect, The Treeline brings international standards to Indian homes, and is India’s first truly vertical forest. There are 17 large apartments offering luscious green views from every window and a full sized tree in every deck. The internal specifications are top-of-the-line with high end imported fittings from leading brands across the globe. The project, located in the highly desirable location of Jakkur plantation – the preferred residential destination of a number of CXOs and MDs in Bangalore, has one of the highest per capita amenities for a project of this size, in addition to spacious floor plans, and a stunning terrace level with a clubhouse and infinity pool.

SmartOwner’s expansion in the segment is driven by a growing demand among both NRIs and top business executives looking to invest in larger, spacious homes in prime locations with advanced specifications such as home offices, large outdoor areas, more greenery, and top-quality amenities. These are homes that would allow residents to spend a relatively longer time at home in greater comfort. Needless to say, the purchase of a home is considered among the best and safest investments as we continue to grapple with the COVID impact, considering that this is one of the few asset classes that has behaved predictably and strongly during this period.

Vikram Chari, Founder, CEO of SmartOwner explains, “With the new norm becoming more time spent at home by multiple residents, business executives and professionals are aware they need to invest in larger and better homes to be able to spend comfortable family time, while also  allowing for luxuries like more green spaces, foliage views, and outdoor entertainment areas. As a result, we are seeing an increase in demand in the past few months and this is expected to further increase by the first half of 2021. Considering luxury and international designs are our forte and specialisation, The Treeline is a logical addition to the portfolio of the company.”

Diana Mathew, Director of Operations adds, “The combination of our project locations, the emphasis on luxury and the meticulous attention to detail, combined with international design and features will make all Prime One Corp projects in this segment very attractive to both home buyers and investors alike. A significant portion of both Centro and Beverly Woods, that are scheduled for a launch in a few weeks, have already been booked and we expect a similarly strong response to The Treeline, which is our top-of-the-line offering.

About SmartOwner

SmartOwner offers discerning investors an online marketplace that enables them to participate in highly curated real estate investment opportunities in the fastest-growing markets of the world. Drawing on its experience of having funded projects by some of the leading developers in India, SmartOwner ventured into real estate development management in 2018. Its in-house development management arm, Prime One Corp, aims to bring international standard high-quality homes within the reach of the Indian home buyer; setting new quality benchmarks in the real estate market in Bangalore. Prime One Corp’s projects are executed by a cadre of internationally experienced architects, engineers and designers. The team members bring rich experience to the table, having worked for leading property and construction companies in marquee projects throughout Asia and the U.S.

For editorial enquiries only, contact: Harish, PRHUB @ 9538897080 or email harish@prhub.com

India’s hospitality industry witnesses decline of 52.8% in RevPAR during the first three quarters of 2020: JLL

Nov 15, 2020 | Business

India’s hospitality industry witnesses decline of 52.8% in RevPAR during the first three quarters of 2020: JLL

  • All key 11 markets in India reported a significant decline in RevPAR Performance in Q3 2020 Y-o-Y
  • Mumbai continues to be the RevPAR leader in absolute terms, despite the decline of RevPAR by 71.7% in Q3 2020 compared to Q3 2019
  • Bengaluru saw the sharpest decline in RevPAR in Q3 2020, with 88.1% decline compared to the same period in the previous year

India’s hospitality industry has witnessed decline of 52.8% in Revenue Per Available Room (RevPAR) during January to September (YTD Sept) 2020 over the same period last year due to the impact of Covid-19 pandemic, according to JLL’s Hotel Momentum India (HMI) Q3 2020, a quarterly hospitality sector monitor. Overall, in inventory volume, the brand signings declined by 19% in Q3 2020 over Q3 2019, however international operators signed a greater number of keys than domestic ones.

All key 11 markets in India reported a decrease in RevPAR Performance in Q3 2020 over the same period last year. Mumbai continues to be the RevPAR leader in absolute terms, despite the decline of RevPAR by 71.7% in Q3 2020 compared to Q3 2019 whereas Bengaluru saw the sharpest decline in RevPAR in Q3 2020, with 88.1% decline compared to the same period in the previous year.

According to the findings of HMI Q3 2020, international operators dominated signings over domestic operators with the ratio of 53:47 in terms of inventory volume. Demand in leisure destinations began seeing weekend occupancy spikes as the lockdown restrictions were further lifted in August.

Source: STR

Other cities such as Pune (86.2%), Kolkata (82.6%) and Goa (78.8%) also witnessed sharp declines in RevPAR.

“Investors are taking interest in exploring operational hotel opportunities both in business and in leisure locations. With the phased unlocking of the economy in the third quarter of 2020, we are witnessing gradual growth in demand particularly in leisure market with weekend occupancy spikes”, says Jaideep Dang, Managing Director, Hotels & Hospitality Group (India), JLL.

Total number of signings in Q3 of 2020 stood at 24 hotels comprising of 2,314 keys recording a decline of 19% compared to the same period last year. The Reserve Bank of India (RBI) has announced de-linking hotels from commercial real estate enabling hotels to seek capital loans from banks and ease out liquidity issues, especially for new hotel projects.