FORBES GLOBAL PROPERTIES ENTERS INDIAN REAL ESTATE MARKET
By :
LUXURY KNOWS NO LIMITS : Forbes Global Properties to transform the real
estate landscape in India
New Delhi, Jan 2024 : American giant Forbes is all set
to enter the Indian real estate market with the grand debut of India Forbes
Global Properties. Forbes is a hundred year-old brand associated with who's who
of the world and millionaires around the globe.
India Forbes Global Properties is a natural extension of Forbes Global
Properties. Membership for the firm is the invitation-only network reserved for
the most distinguished brokerages in select cities and second-home
destinations, representing many of the world's finest homes for sale.
To transform the real estate
landscape in India, as it experiences exponential growth; Forbes Global
Properties will set a global benchmark of luxurious living in India. The
platform will seamlessly connect high-net-worth individuals, investors, and
real estate enthusiasts with some of the most coveted and distinctive
properties in the country.
It aims to showcase the finest
properties from the most elite locations and the move also signals Forbes
Global Properties' strategic expansion into one of the world's most dynamic and
burgeoning markets, promising discerning investors unprecedented access to a
curated portfolio of ultra-luxurious homes, estates, and premium developments.
The post-covid world has witnessed a sudden surge in the sales market of
property of luxury and high luxury. That is what has drawn Forbes Global
Properties to India and makes India one of the most favoured nations for
investment.
Forbes Global Properties' excitement towards entering the Indian real
estate market was palpable, as we could see the CEO and the Board Chair of
Forbes Global Properties announcing their plans to cater to India's
ultra-luxurious living.
In India's 14 Tier 1 cities,
including Delhi, Mumbai, Hyderabad, Bengaluru and Chennai, there have been 4.13
lakh new launches, out of which there were 14,754 luxury projects (per unit
more than INR 5 crore) and almost all, 14,654 had immediate takers. It is
noteworthy that the luxury projects make nearly 4% of the total launches.
Announcing the launch Michael W.
Jalbert, CEO, Forbes Global Properties, said, "It is an absolute honour to
welcome India Forbes Global Properties to our international network. Our
expansion into India is particularly meaningful. The nation's burgeoning
markets present unlimited opportunities for discerning buyers and investors
seeking ultra-luxurious homes, coveted estates, and premium developments."
While Matt Beall, Board Chair, Forbes Global Properties, said,
"Forbes Global Properties is honoured to make its foray into the luxury
real estate market in India. Through our newest member, India Forbes Global
Properties, we look forward to introducing the world to a curated collection of
homes that exemplify luxury and reflect the country's unique cultural and
architectural diversity."
The Indian team too shared the excitement as A.K. Sharma, Chairman,
India Forbes Global Properties said, "It gives me immense pleasure to
announce that Forbes is launching Forbes Global Properties in India. As the
Chairman, I firmly believe that this alliance will epitomize luxury in Indian
real estate. The crème-de-la-crème of our nation deserves to find a space that
complements their style and stature, and with Forbes, we are here to realize it
for them." Mona Vij, Director, India Forbes Global Properties said,
"Though luxury knows no limits, with Forbes Global Properties, we aspire
to establish new standards of opulence, aiming to make it the cornerstone in
Indian real estate. And as India experiences exponential growth, we are
confident that our vision will set a global benchmark of luxurious living in
India."
THE VISION:
Forbes Global Properties aims to redefine the standards of luxury living
in India by curating an exclusive selection of premium residences that embody
sophistication, innovation, and unparalleled craftsmanship. The platform will
seamlessly connect high-net-worth individuals, investors, and real estate
enthusiasts with some of the most coveted and distinctive properties in the
country. It aims to showcase the finest properties from the most elite
locations.
EXCLUSIVE
OFFERINGS:
Discerning clients can expect a diverse range of exceptional properties,
from sprawling estates in the verdant hills of Himachal Pradesh to luxurious
penthouses overlooking the Arabian Sea in Mumbai. Forbes Global Properties will
showcase a carefully curated collection of homes that exemplify the epitome of
luxury, reflecting the unique cultural and architectural diversity of India.
Their first offering will be in New Delhi with a 7-acre plot with high end
retail street, club and a luxurious hotel.
STRATEGIC
PARTNERSHIP: India Forbes Global Properties has tied up with the JV of Orange Smart
City in Navi Mumbai for development of 1200 acres of land. The project will see
a building of up to 10 lakh crore square feet amounting to Rupees 1 lakh 20
thousand crore. This will be amongst the first projects.
Apart from this India Forbes Global Properties in collaboration with
leading real estate developers and agencies in India, Forbes Global Properties
ensures seamless integration into the local market. This strategic partnership
guarantees that the Forbes stamp of excellence is applied to each property
featured on the platform, offering clients assurance of quality, exclusivity,
and value. Besides entering the luxury and super luxury segment the Forbes
Global Properties in India will either get a stake or buy out brokerage firms.
India Forbes Global Properties will also have different verticals - Development
& Management of Properties, Advisory, Financial Services, Facility
Management, Hospitality Services, Event & Recognition Services.
MANAGEMENT TEAM
MICHAEL JALBERT CEO, Forbes Global Properties
Michael leads Forbes Global Properties with more than two decades of
proven experience in the global residential real estate industry, specifically
focusing on the development and expansion of far-reaching international
affiliate networks. Before Forbes Global Properties, Michael served as the
Executive Vice President of Global Business Development at HS Affiliates LLC,
where he worked with the Berkshire Hathaway Home Services teams, and
specifically focused on the development and expansion of the international
network. Prior to that, Michael was Vice Chairman and Partner at ERA Europe
where he led the organization's successful growth efforts.
A K SHARMA Chairman, India Forbes Global Properties
A retired senior Indian Police Services (IPS) Officer from the 1987
Gujarat cadre, he served notably as the Additional Director of the Central
Bureau of Investigation (CBI). Throughout his 34-year career, he garnered
distinction, receiving the President's Police Medal for Distinguished Service
and the Indian Police Medal for Meritorious Services. Specializing in bank and
security fraud investigations, he also played a key role in Stressed Asset
Management. His strategic acumen guides the organization, contributing to
optimal future plans. Currently, he actively engages in the real estate sector,
the second-largest economy in India, showcasing his ongoing commitment.
MONA VIJ Director, India Forbes Global Properties
With 25+ years across Real Estate, Project Management, Marketing
Communication, and Brand & Business Development, Mona is a strategist in
brand launches, market presence, and post-launch aspirational imagery. A
trailblazer, Mona pioneered in-film tie-ups at Airtel, which was adopted
industry-wide. Additionally, she has established an international initiative
that fosters innovations in the telecom sector among the youth. Notably, she
played a key role in securing the Indirapuram Habitat Centre Project- a distinctive
2 million sq. ft. venture.
SANJAY KACKAR Chief Business Officer, India Forbes Global Properties
With over 32 years of experience, he enriches our team with invaluable
expertise, focusing on the dynamic real estate sector. A seasoned professional,
his track record and industry insight make him adept at driving growth,
providing visionary leadership, generating revenue, and achieving sustainable
positioning. He played a pivotal role in transforming the brand image and
tenant mix of shopping malls, commercial buildings, and IT parks. His
proficiency lies in strategically aligning brand and business processes to meet
the unique industry demands. His extensive experience and strategic insights
underscore his value as a key team member, making a significant impact on our
endeavours.
