x Abu Dhabi, UAEThursday 18 January 2018

Sports stars prove to be aces in pack for Indian developers

Celebrities such as Michael Schumacher and Maria Sharapova used to market properties in India as developers look to boost sales.

Indian developers are increasingly teaming up with international names to help to boost property sales.

Michael Schumacher recently lent his name to a project in Gurgaon, a satellite city of New Delhi. The Michael Schumacher World Tower project is set to include 100 homes, a helipad and a cafe and museum dedicated to the racing driver, according to plans for the furturisitc-looking building.

Indian developers have traditionally partnered with Indian celebrities, such as the cricketer Yuvraj Singh.

Homestead, the developer of the Michael Schumacher project, has also teamed up with the tennis player Maria Sharapova for another luxury development in Gurgaon.

Meanwhile, Lodha Group, one of the biggest luxury developers in Mumbai, has hired Giorgio Armani to design the interiors of its 20 billion rupee (Dh1.3bn) World One tower project, while it has partnered with Jade Jagger, the designer and daughter of Rolling Stone Mick Jagger, and Philippe Starck on other developments.

"The growing population of high net worth individuals in India with an increasing exposure to global lifestyle and luxury offerings has led to a spurt in demand for high-end luxury property in Mumbai," said R Karthik, the chief marketing officer at Lodha Group.

"Challenges include staying ahead of the curve on innovative and customer orientated offerings in luxury real estate and capturing the imagination of customers," he added. "We strive to bring in the most renowned global partners and services to India and increase the awareness of consumers about the true luxury offerings so as to stand out from a crowd."