International architects, interior designers are back on Mumbai real estate scene

Two years back hiring international architects and landscaping firms was in vogue among Indian realtors.

Projects were synonymous with international architects who would design the project and Indian allies who would complete it.
However, recession curbed Indian realtors’ ability to hire them, but now with economy improving, international names such as HOK, LERA are again becoming common among the Indian developers.

Not only are foreign architects now designing the projects, realtors are making sure that they complete it, too.

Oberoi Realty, the Vikas Oberoi promoted company, has invited tenders from international contractors for its project at Worli, where it will construct a 300 metre tall residential tower.

Reema Kundnani, VP - marketing, Oberoi Realty, says, “We already have on board consultants Kohn Pedersen Fox Associates (KPF) from US, which has been part of Shanghai Financial Center, structural consultant LERA (Leslie E Robertson Associates), US, MEP Services, AKF Group, QS services consultant, Davis Langdon & Seah International for our Worli project.”

KPF was taken on board 10 months back for the 2 .1 million square feet (msf) development, which would have a residential and 2 commercial development and a 5 star hotel.

Oberoi has also hired HOK for its commercial project in Goregaon called Oberoi Commerce.

Lodha Group, the realty company promoted by Abhisheck Lodha, is launching three projects this fiscal and is hiring international architects for landscaping and interior designers for them.

It has tied up with Pei Cobb Freed and Partners, based out of New York City, for its World One project, the tallest residential project in the world.

Though it is still awaiting some of the approvals, the designers have earlier done the Louvre Pyramid in Paris and John Hancock Tower in Boston.

A person familiar with the development said, “Lodha is tying up with US-based interior designer for its Goregaon project and has engaged Sitetectonix Pte, a Singapore based architectural firm, for landscaping at its Andheri project.”

Abhisheck Lodha, managing director of the company, said, “We are launching one project each in Goregaon and Andheri East in the residential segment with a saleable area of approximately 1 msf each and one residential property in Hyderabad and one boutique commercial project in Kanjurmarg admeasuring 1 msf.”

Shree Ram Mills, promoted by Vikas Kasliwal, has hired Joseph Philip Colaco, a structural engineer who has been part of John Hancock Tower in US and Burj Khalifa in Dubai, for developing its around 300 metre tall Palais Royale residential project at Worli.
The project has the world’s deepest girder of 9 metres and the technology has been hired from Germany.

An analyst with a domestic brokerage said, “Most of these projects are close to 300 metres tall and Indian contractors haven’t done many projects in this segment. Also, it’s mostly the unlisted players that are bringing in the big names as they want to position themselves as the builders of premium brands in the hope that they get a good valuation when they come up with their IPOs.”

Lodha will launch its Wadala project by the end of this year. It is also planning to take a relook at its IPO in the next two months. The company had received Sebi nod in February this year and if it doesn’t come up with its IPO in next six months it will be required to refile it.

Lodha says, “We are not in a hurry to come in the market with excessive discount.”

Sources said the company has recorded sale of `2,600 crore for the last quarter, though it could not be independently verified.
The developer has received Rs 500 crore from HDFC Property Fund in its World One project.