SQUAREA achieves ₹225 cr. sales for Odisha's first branded residences, DN YOO Odisha, in pre-launch, as Bhubaneswar luxury homes market sees momentum
BHUBANESWAR, India, Aug. 12, 2024 /PRNewswire/ — With trade, industry and services booming in India’s City of Progress — luxury real estate has also followed northwards in Bhubaneswar. Rising rates and high pre-launch booking volumes culminating in tower and phase-level sellouts are becoming the norm in India’s No.1 ranked smart city. Leading developers are introducing increasingly ‘international’ designs with five-star amenities, leading to higher absorption in the 3+ cr. ticket-size segment in the city. More and more of the city’s lifestyle–conscious HNIs, business families and A-lister citizens are looking for homes, which match their expectations of an international-standard ‘anchor home’ with ‘resort like’ experiences, right here in Bhubaneswar.
DN YOO Odisha was a notable success story to such a demand upswing in the Bhubaneswar market where well-known diversified corporate group — DN Homes — pre-launched the first branded residences of Odisha, in partnership with the world’s largest residential and hospitality design brand — YOO Worldwide London.
The project is the right mix of international design, global partners, space planning, international landscaping and attractive pricing for early investors, in the serene neighborhood of Gajapati Nagar on the wide MCL Road next to NBCC Imperia and the Kala Mandal.
Marketed exclusively by Pune-based strategy-to-sales partner SQUAREA, the project was revealed at a pre–launch event, primarily to the city’s top investors, and saw an unprecedented booking success of over Rs. 225 crores within the first 45 days itself, from receiving ORERA approval (ORERA Registration No.: MP/19/2024/01171) sometime in mid June.
The pre-launch success of DN YOO Odisha underscores the growing demand for high-quality, design-centric living spaces in Bhubaneswar. The collaboration between DN Homes and YOO Worldwide through SQUAREA, which focuses on luxury and branded homes, highlights the potential for innovative design to enhance the quality of life for globally travelled, discerning residents. This project involves top consultants from Singapore, Dubai, and London, ensuring global–standard construction quality and design, and marks the coming of age of world-class real estate in the city.
Having executed the city’s first branded 5-star hotel, Vivanta Bhubaneswar, DN Homes has been instrumental in bringing several ‘firsts’ in the city, including being the first Odia business house to diversify into hospitality, construction, seafood exports and education. With this project, DN Homes has put Odisha and Bhubaneswar on the international real estate map of the world, alongside Miami, Dubai, London, New York and others.
“Our goal is to offer strategic and differentiated value to our real estate partners, by leveraging our expertise and strategic partnerships in luxury residential and Grade-A commercial. Branded residences are an important part of the product offering,” said Aseem Agarwal, Co-founder, SQUAREA. “The overwhelming response to the DN YOO Odisha pre-launch event is very encouraging and reflects our commitment to partnering with DN Homes, and YOO Worldwide in delivering nothing short of the best for our valued clientele.”
“SQUAREA’s strategic approach and deep understanding of the luxury real estate market have been key to achieving these very positive numbers,” said Mr. Jagadish Prasad Naik, Chairman of DN Homes. “Their partnership in our end-to-end real estate strategy from product till possession has ensured that DN YOO Odisha resonates well with the buyers who seek the highest standards of luxury lifestyle, enjoy 5-star conveniences, understand global design and value a high-end technology product.”
This milestone marks the most successful luxury pre-launch event in the city’s history, setting a new benchmark for the market. Meanwhile, the reality for Bhubaneswar as the ‘gateway to East India‘ looks to be around the corner as an end-use destination of HNI investors, more luxury developments, and surging business interest in the city.
For more details on the project, please visit: https://rera.odisha.gov.in/
For further information on branded residences or specific queries:
Anirban Dasgupta
CMO & Co-founder of SQUAREA Consulting
[email protected]
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