02nd May 2013
Realty firm Supertech Ltd on Wednesday announced tie-up with Disney India
New Delhi: Realty firm Supertech Ltd on Wednesday announced tie-up with Disney India to develop a Disney-themed housing project in Greater Noida at an investment of about Rs 500 crore.
The partnership with Disney India comes close on the heel of its tie-up with Italian fashion brand Armani group for interior designing of 100 super-luxury flats in one of the mixed-use project at Noida.
The tie-up with Disney India is for developing 800-1000 flats, with Disney inspired exterior and interiors, in the 7.5 acre housing project 'Fable Castle', which is part of the 100-acre township located on Yamuna Expressway.
"We have been focusing on branded residences. With this tie-up, we are bringing the enchanting world of Disney for our prospective customers," Supertech Director Mohit Arora told reporters here.
The project will have Disney inspired rooms consisting of Disney-branded furnishing, home decor products and colour palettes among others. The landscape, club, gym and other exteriors would also be based on this concept.
Commenting on the partnership, Disney UTV Managing Director (Consumer Products, Retail and Publishing) Roshini Bakshi said: "This is our third such project in India. We have already tied up in Mumbai and Kolkata. Consumers in Mumbai have reacted positively for Disney-themed homes and feedback is very good in Kolkata as well".
Disney India has tied up with Sunteck Realty in Mumbai, while in Kolkata, it has partnered Team Taurus, she said, adding that the company is looking for more such projects.
"We will not do profit sharing with Supertech. There is certain fee," she added.
Noting that Disney has different brands for different age group, Bakshi said the concept will differ according to the customer requirement.
Asked about the investment on this project, Supertech's Arora said that it would be about Rs 500 crore.