Real estate developer Merlin Group has formed an exclusive partnership with fashion media giant Fashion TV (FTV) to launch a ₹800-crore branded luxury residential project in Kolkata.
The first phase of the project will include 11 residential towers with 880 apartments. Completion of the project, which spans over eight acres, is slated for 2030. In the second phase, five to six additional towers are planned.
“It is definitely a strategic tie-up that we are getting into. We have global exposure to what lifestyle and glamour quotient means and what a perfect finishing of a building is. FTV has more international exposure than us. So, they can bring in the design input of the project, specific materials on our clubhouses, common areas and landscaping. And together we can make a very wholesome and beautiful project,” said Saket Mohta, Managing Director, Merlin Group, on Saturday, announcing the launch of the project.
The design of the luxury residential project, Merlin F Residences, is being curated by FTV. “Investment in the project, including land, would be anything north of ₹800 crore,” Mohta said. For FTV, there will not be any commercial investment in the project.
“I believe that whenever anybody wants to buy a property, the person goes to buy a home, not a house. A home is built on values and based on future, aspiration, dreams and hopes. We chose to partner with Merlin to give a product to the end users who can cherish it as a home, not a house. That is what I think we can achieve in this partnership,” said Kashiff Khan, Managing Director, Fashion TV Global.
In India, FTV has expanded its presence with F Residences in Ludhiana, Chandigarh, Pune, Mumbai, and Noida. And upcoming projects include luxury apartments in Pune and Ranchi, and exclusive villas in Pune.
Kolkata-based Merlin Group has expanded its footprint to Mumbai, Pune, Chennai, Bhubaneswar, and Colombo, delivering over 150 real estate projects.