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Residences worth over INR. 1,000 cr. sold in 30 days

The Edge, located at Parel marks Tribeca’s entry into Mumbai

Mumbai, 21st August: Tribeca Developers, India’s largest luxury branded residential developer and the largest global developer of Trump-branded projects, has set a new benchmark with the launch of their latest luxury residential offering, ‘The Edge.’ In just 30 days the project, which is a collaboration between Tribeca Developers and Tejukaya, has achieved sales exceeding INR. 1,000 crores, establishing it as South Mumbai’s fastest-selling residential development in recent years.

Situated on a prime 2.5-acre site in Parel, Tower 1 of ‘The Edge’ features 228 meticulously designed residences. The development includes a range of 2, 3, 4 & 5 Bed homes, with prices from INR. 4 cr to INR. 12 cr.

The project is one of the largest projects in South Mumbai and is being developed under the Maharashtra government’s ambitious Cluster Redevelopment Policy.

In January 2024, Tribeca Developers announced a collaboration with the 135-year-old Tejukaya Group on this project, with INR. 200 cr. financing line secured from HDFC Capital. Subsequently, Piramal Capital provided an additional INR. 120 cr. of credit line. With less than 50% of these financing lines drawn till date, Tribeca doesn’t expect to draw the balance lines.
Mr. Kalpesh Mehta, founder of Tribeca said “Tribeca focuses on building only landmark trophy properties, and our projects have always been extremely well received across India. With The Edge we pushed the boundaries of luxury well, till the edge, and we are grateful to our customers for rewarding us so robustly on our maiden entry into Mumbai. This is the biggest launch that Tribeca has had in its 12-year journey. The market for luxury residences in India remains strong and buyers across the country are willing to pay huge premiums over competition to acquire homes in trophy projects that are one of a kind, and that is the demand we cater to.”
He added, “Our asset light approach relies heavily on having extremely strong partners who have strong land expertise, such as Mr. Pranav Tejookaya. This land had been in his family for over 100 years and had 730 families housed in chawls built by his great grandfather. Pranav bhai’s ability to vacate and get approvals on once in a lifetime site, is a big reason for our success.”
Pranav P. Tejookaya, CEO & Managing Director of Tejukaya Group, said “Collaborating with Tribeca on ‘The Edge’ reflects our shared vision for redefining luxury in Mumbai. This location has a deep personal significance for us, and seeing it transformed into an iconic residential address is a proud achievement. With Tribeca’s expertise and our deep-rooted local insight, ‘The Edge’ will set a new standard for luxury living in Mumbai.”
‘The Edge’ boasts an iconic façade with two shimmering glass towers rising 600 feet into the sky and will be among the tallest towers in the micro-market. Design is at the core of the residences with every room featuring Tribeca’s signature openable façade, with full length sliding windows and glass railings on the outside.

Tribeca is known for developing the largest rooftop in the world in Pune. The rooftop at The Edge will be the most iconic in Mumbai and will be packed with amenities such as the glass-bottom sky-bridge. The project has one of the largest amenities programs in the entire micro-market with amenities spread across 4 levels.

About Tribeca Developers

Tribeca is a specialty real estate developer focused on creating world-class products and customer experiences. Tribeca pioneered the concept of branded residences in India by bringing the Trump brand to the country. Since its founding, Tribeca has become:

The largest developer of luxury branded residences in India
The largest developer of Trump-branded properties in the world, second only to the Trump Organization
The developer of the world’s largest rooftop terrace
The developer of Pune’s largest high street retail project

Tribeca’s projects consistently sell at large premiums to its competitors. Tribeca’s projects in Pune – The Ark and YOO One sell at a 25-40% premiums over competing projects, including projects by some of India’s largest developers. Similarly, Tribeca’s Trump Towers Delhi NCR projects sells at 30-40% premium to market. Tribeca Highstreet, Pune’s largest high street retail project commands the highest rents in the micro market and houses top Indian and global retail brands such as Starbucks, McDonalds, Shoppers Stop, Croma, Westside, Decathlon, Max, Caratlane, GAP, etc.

Currently, Tribeca is developing over 6 million square feet of branded residential projects in India with a sale value of INR. 7,000 crores and has a development pipeline of over 4 million square feet.

Tribeca is supported by some of the largest financial institutions of the country including ICICI Bank, HDFC Capital, Tata Capital, KKR.

Tribeca believes in contributing towards a sustainable environment and is focused on developing responsible homes that are energy efficient and use materials and resources that don’t cause a negative impact on the environment.

For more information, please visit www.tribecadevelopers.com

About Tejukaya Group

Tejukaya Group of Companies, founded in 1888 and headquartered in Mumbai, is an esteemed civil contracting and real estate firm. With a century-long legacy, the company has contributed to India’s architectural heritage by constructing iconic buildings and large Infrastructural projects like Old Custom House, Kasturba Hospital, S-bridge in Byculla, Curry Road Bridge, Tansa Dam which supplies water to Mumbai, Arthur Road Jail, the entire drainage and sewerage lines of South Mumbai with Worli Sewage Pumping Station, and others across India such as Deolali Cantonment, Laxmi Vilas Palace in Baroda, several dams in Gujarat and many similar iconic projects across India. Tejukaya Group boasts a nationwide presence and specializes in creating civic infrastructure landmarks. Their extensive portfolio includes a range of residential and commercial projects, celebrated for their top-notch construction quality and timely delivery.

Today, Tejukaya Group is committed to modernizing its offerings while prioritizing sustainability. Their latest endeavours, such as Signare, Esperenza, and Ikebana, reflect the company’s dedication to environmentally friendly architecture and innovation.

For more information, please visit www.tejukaya.com.