Central Park Central Park is a dynamic and innovative company with a passionate commitment to excellence in real estate development. Its commitment is reflected in all aspects of its core competencies, right from the acquisition of land, through to planning, design, construction and marketing. It has unrivalled expertise in creating elegantly designed living spaces that exhibit the highest standards of global quality.
With its corporate office in Gurgaon, Central Park has significant presence in India's National Capital Region (NCR). It is poised to carry forward its presence throughout the nation, establishing itself as a leading real estate developer in India. Numerous projects being planned across several states are scheduled to be executed in the near future. Central Park has over 10.9 million sq ft of existing development and another 65 million sq ft planned in projects spanning the sectors of hospitality, leisure, recreation, commercial and upscale residential developments. Ashmore Associates LLC, a leading UK-based investment firm, has taken a significant equity stake in Central Park and is now represented on the Board of the Company.
The company's first project, Central Park I, a pioneering upscale condominium initiative located in Gurgaon, part of India's National Capital Region, was an unprecedented success, selling out within a short span of time since its launch in 2001. This success was also an affirmation of the values that Central Park stands for: an uncompromising belief in quality and excellence, and a commitment to the promotion of a truly global lifestyle in India.
Central Park's second foray into luxury residential development also met with a similar response. Phase I of Central Park II, located in Gurgaon, sold out in a record period of two days! Phase II of this project is now on sale and over 45 percent of the 369 apartments have been sold. The next two phases of the project are in advanced stages of planning and promise to bring to India a whole new paradigm in luxurious living.
Having firmly established itself as a leader in the market for upscale condominiums through the expertise of its professional project management team, the company is now diversifying into other areas of real estate development. It is following a two-pronged strategy for entering the hospitality sector: upscale serviced apartments and luxury hotels, in Gurgaon, with others planned across the country. It will enter the commercial and office space segment with the development of an Information Technology (IT) Special Economic Zone (SEZ) in Noida. Leisure spaces are another area that Central Park plans on making a focal point on which to direct its energies. The company also intends to invest in the use of technology to achieve lower costs and dramatically shorter construction-cycle periods so as to develop quality affordable housing. All future plans will be founded on the company's credo, to deliver the best in the field.