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Chennai-based developer Casagrand is making its international debut with a USD 111 mn luxury residential project, the Casagrand Hermina, in Dubai Islands, Economic Times reports. The Indian developer is targeting some 6 mn sq ft of premium projects in the Gulf region over three years. With over 160 completed projects spanning 53 mn sq ft in India, Casagrand is positioning Hermina as an eco-focused offering for global buyers.
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Hot locale: The 131-unit tower plans to tap demand in Dubai Islands, a fast-transforming waterfront district backed by the Dubai 2040 Urban Master Plan. Upcoming connectivity upgrades, including an eight-lane bridge by 2026 and a proposed metro extension, are expected to increase valuations in the cluster.
Background: The entry places Casagrand among a small cohort of Indian developers building a sustained Gulf footprint, including Mumbai-based Sunteck Realty which announced a USD 1.2 bn luxury project recently and Panchsil Realty’s Dubai partnership with Betterhomes.
