Modi Group Announces Rs 6,000 Crore Investment in India Over 5 Years
Rajarshi Bhupendra Modi, the founder of Modi Group, unveiled intentions to infuse Rs 6,000 crore in India over the upcoming five years, aiming to establish wellness-focused cities. Renowned for its real estate endeavors in Singapore, New York, and Dubai, the group has earmarked Rs 1,000 crore for specific ventures. This includes a healthcare initiative spanning 2 million sq ft in Delhi's Saket and an integrated township in Rampur, Uttar Pradesh. Teaming up with Miami-based real estate behemoth David Lynd, the group plans to construct residential buildings in Miami, FL, USA, and Saket, New Delhi, India, consolidating them under a unified global brand. Furthermore, the ongoing Rampur township project is set to pioneer the area's premier hotel, cinema, and mall facilities.
The company's Saket Health City initiative aims to establish a healthcare center comprising medical offices, wellness residences, and homes for senior living. According to Modi, the approved development plans cover approximately 2 million sq ft, with potential for future expansion. Additionally, the company is exploring opportunities in new cities for land acquisition, furthering their development goals. These efforts are expected to create employment opportunities directly and indirectly across multiple Indian cities. The company's core focus remains on preventive healthcare, wellness, and technology-oriented infrastructure.
Fostering wellness across all their ventures is a fundamental principle for the company. Modi highlighted recent land acquisitions in Dwarka, Gujarat, aiming to create a wellness resort. Furthermore, the company is keen on exploring development prospects in Ayodhya, emphasizing wellness aspects. Presently operational in Rishikesh, Uttarakhand, the Modi Yoga Retreat plans expansion with a new establishment in Rishikesh and several retreats in Dwarka, Gujarat.
The company has already committed Rs 2,000 crore to develop Modipur, Rampur, into a comprehensive global smart city. This ambitious venture includes multiplexes, malls, luxury hotels, urban residences, and futuristic manufacturing industries focusing on AI technology. A groundbreaking ceremony was recently conducted for the Modi aircrete & ancillary factory in Modipur, aiming to revolutionize construction practices in India and significantly reduce construction timelines, as indicated by Modi.