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BCD Group, one of the oldest names in the Indian construction and design industry, announced a joint venture with Maiwir India to offer an accelerated construction speed to its clients through a unique blend of use of futuristic technologies and building infrastructure modelling for real estate projects in Bengaluru. Through this partnership, BCD aims to develop over 100 million square feet of real estate over the next 5 years as it looks to strengthen its order book.
Through a judicious mix of BCD’s experience along with Mawir Infra’s global experience in turnkey projects including design and architecture, since the past 7 decades, the joint venture will offer enhanced construction solutions across commercial, retail, hospitality, institutional, health care and residential sectors. This assumes significance to meet the growing demand for real estate in the country, necessitating the need for quicker turnaround in project development while ensuring high quality standards are maintained.
Commenting on the partnership, Angad Singh Bedi, Managing Director at BCD Group said “Over the last decade, the demand for real estate across different segments - commercial, retail, hospitality, institutional, health care and residential- have grown significantly, driving the demand for faster turnaround of projects. As a client-focused organisation, BCD is at the forefront of developing state-of-the-art projects and we are excited to announce our joint venture with Maiwir India to reduce the construction time by half and ensure timely delivery, thereby bringing delight to our customers. We find synergies in the missions of both companies to constantly endeavour to offer innovative design, superior quality projects and a state-of-the-art experience. We aim to develop over 100 million square feet of real estate space by utilising solutions from Maiwir over the next 5 years”
BCD has completed development of over 25 Million sq feet, and about 13 million square feet is currently under construction, making it one of the largest construction companies in this sector. The inclusion of technology will result in cost savings, improved quality and better customer delight.
Sarath C Parupalli, Managing Director, Maiwir Group said, “We are quite excited about our partnership with BCD as it marks a new chapter in the real estate industry where technology is concerned. It plays a crucial role in meeting the nation’s infrastructure needs in a fast-tracked manner. We deliver path-breaking indegenius design solutions that are cost effective, faster and highly flexible and will establish the new foundation for the rapid growth of Indian real estate expected over the next two decades. The judicious mix of BCD’s decades of experience coupled with our state-of-the-art technologies will significantly accelerate real estate development and cater to the country’s economic growth”.
According to the report 'India Real Estate: Vision 2047', developed by Knight Frank India in association with NAREDCO, India’s real estate sector is expected to expand to $5.8 trillion by 2047 with the projected real estate contribution to stand at 15.5 percent to the total economic output in 2047 from an existing share of 7.3 percent. Here, the residential real estate output will touch $3.5 trillion from $299 trillion in 2022 while the office real estate output will reach $0.47 trillion from $0.04 trillion, the report said. The warehousing real estate output will touch 0.034 trillion from 0.029 trillion last year, the report added.
