SkyscraperCity banner

781 - 800 of 2193 Posts

·
Registered
Joined
·
5,266 Posts
Excerpts from Businessstandard interview with abhishek lodha

You have not secured all the permissions for the 117-storey World One project and the Mumbai Metropolitan Region Development Authority (MMRDA) has not given you complete possession in the Wadala project. Isn’t that a concern for your customers?

For World One, we have secured approvals from all departments except from the civil aviation one. It is the least of our worries. It is a process and they are still studying the project. Our international consultants have studied it and have not found any problem. We have not sold one flat more than what we have permission for. We are a fool-proof company and we don’t go beyond what authorities have approved. In the Wadala project, while MMRDA has given possession of a part of the land, we have commenced sales where construction is underway.

In the World One and World Crest projects, how many flats have you sold?
In World One, 60 per cent is sold, while in World Crest, 50 per cent is sold.

Many of your projects are in central Mumbai, which is prone to oversupply. Consultants say this could lead to price corrections.
Of our 280 million sq ft saleable area, only 18 to 20 million sq ft, or 10 per cent, are in central Mumbai. Talks of oversupply have been there in central Mumbai for some time. I can’t forecast what would happen tomorrow. But facts have not supported what has happened in the market so far. It is difficult to get supply in the market. As of now, there is moderate supply in central Mumbai. There are no new projects up for completion this year or next year — nothing till 2015. And, there is demand at different price points — a lot of builders were building large, three-bedroom apartments or four-bedroom apartments. Now, different price points have come in. For any large project such as the Mumbai Textile Mill, which go on for about seven, eight or ten years, would there be any down cycle?, For sure, there will be a down cycle. Will there be up cycle? Yes, there will be. Because it is the nature of real estate — every four years, there would be up and down cycles. If you buy only during the up cycle, I don’t think it is a smart move. The smart ones, the very successful ones, are those who see opportunities at the bottom of the cycle, not at the top.

The Omkar-Larsen & Toubro joint venture has announced a project in central Mumbai at Rs 16,000 per sq ft, half the prevailing prices in the region. How do you see it affecting your projections?
I do not want to comment on that. Decisions on pricing are a combination of quality of location, design and promoters. We believe the Mumbai Textile Mills land is in a good location and has good access from all sides.

You are carrying out large projects such as World One and New Cuffe Parade, which would take years to complete. Aren’t these risky, given the volatile market conditions and the constant changes in rules?
First, World One would be completed in 2015 and World Crest in 2014. Every business is about opportunities and risks.

source
 

·
Skyscraper Enthusiast
Joined
·
2,208 Posts
Oh, I think they said the completion date for World One was 2014 before, right?...Man, 2015 is a long way off....But atleast frequent updates on the construction would be exciting.
 

·
Registered
Joined
·
1,504 Posts
The core looks awesome, its raring to soar much higher ! :D Brilliant work CG, and deekshit, thank you for those diagrams, quite useful I must say, good work :cheers:
 

·
Registered
Joined
·
9,811 Posts
Grocon forges ahead with World One tower in Mumbai

Australian Construction company Grocon, which has worked on such landmark projects as the Burj Khalifa and Princess Tower, is forging ahead with World One in Mumbai.

The company's international chief executive Jeremy Lester said the buiding is setting new standards in the city's construction industry.

“It is 117 floors, in a city which is pretty much a 15-to-20 floor city," he said. "World One really is a true combination of international thinking, so you have got Pei Cobb as the architect, Lair is the structural engineer, you have Buro Happold, and you have got Grocon advising.

"Developer Lodha is really forward thinking in terms of its aspirations. We are advising on construction methodology, we have done site logistics, because you can imagine in Mumbai that is a huge issue, just getting the materials together on-site quick enough to be able to work.

"We have got our jumpform systems both on World One and its sister tower World Crest. It is a big site; nevertheless access through Mumbai is really very challenging."

In terms of the difference between the construction industry in the UAE and in India, Lester says: “At the end of the day, you are working with the same labour force that is working here. It may be less experienced; it is slightly more transient.

"First of all our cycle times are like nothing they have seen in India. It does not sound fast for here, but we are working a six- to seven-day cycle time in a market that is running typically at 14 to 18 days, so that is a huge saving.

“And the industry is beginning to comment on the quality, speed and efficiency of the workmanship, the safety and the organisation of the site, and I think what we are contributing to is creating a new standard for good execution in India."

“There are increasingly more developers like Lodha who want to create new standard of excellence in the Indian market. And there are some great companies: Shapoorji Pallonji, Omkar and are great organisations, and some of them like Larson & Toubro are working here [in the GCC].

World One is a residential tower under construction in Upper Worli, Mumbai on a 17.5 acre site. The estimated project cost is $362m, with completion scheduled for 2014.

It will be the world’s tallest residential tower once completed, beating the current record holder, Princess Tower in Dubai Marina, a project that Grocon has worked on as well.
 

·
Registered
Joined
·
1,333 Posts
September 2012 "World Towers" Update

12th Sep 2012
Copyright:myself

1. World Towers taken from SB marg

The building with World Tower mentioned is World Crest and the one next to it is the World One core both showing a lot of progress now.









This pic gives a complete view:


Clicked today evening around 8pm:


 
781 - 800 of 2193 Posts
Top