Vikas Oberoi Ltd, Mumbai
Invest in People, Global Practices to Succeed in Realty
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Mr. Vikas Oberoi, the headmaster of Oberoi Reality Ltd., shares with Built Expressions the required elements to thrive in the real estate segment.
Mr. Vikas Oberoi, Chairman & Managing Director of well coveted Oberoi Reality based out of Mumbai has marked his three decades of experience in the real estate industry, he has emerged and explored his unique vision, management practices and global approach; for the expansion, diversification and management of the organization. As his passion drives him to involve in every project and his envision of ‘As if he were to personally use it’, attitude has made him grow popular in this industry.
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Transparency breeds trust
Sectors like real estate swears on team work. It was so even with Oberoi Realty and it boasts of some of the best brains working in the industry that helped the company to scale greater heights. “Most of our vertical heads have been with us for long years having under their belts over 20 years of experience in their respective domains. This gives us an edge over our competitors as they have seen the real estate sector evolve along with the ups and downs and have grown along with it. We believe in the legendary Samuel Johnson’s words—‘Integrity without knowledge is weak and useless and knowledge without integrity is dangerous and dreadful.’ The world needs people who have knowledge with integrity. In the context of organizations and prudent blend of knowledge and integrity is the key for any business to grow in a sustainable way. A combination of these two is what we at Oberoi Realty strives to uphold in order to succeed and grow. We strongly believe that this is the only way to a sustainable, growing and inclusive business of value,” he adds.
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The firm believes in absolute integrity in its transactions by standing true to its words in all circumstances; never misguiding or deceiving through its words, gestures or actions and he further adds, “We ensure credibility, respect and sustained growth for our organization. Transparency breeds trust. Being fair, open and honest in all our dealings, we create the necessary environment for sustained growth built on mutual growth and trust.”
Raise of the Company
Oberoi Realty was incorporated in May 1998 and ever since then, his passion in creating spaces has played an important role in driving the growth of the company. His attention to detail thorough understanding of the customer and product and evolving the business as per global trends and practices has made the company excel and bring to Indian consumers quality properties that compare with the best internationally. Over the years, Oberoi Realty has created an established brand and a track record in the real estate industry of developing innovative projects through its emphasis on contemporary architecture, strong project execution and quality construction and as a total of 36 completed projects across Mumbai.
“Our vision is to ‘Create spaces that enhance quality of life’ through our mixed-use, integrated and single segment developments that have witnessed growing demand across all types. Our flagship development at Oberoi Garden City (OGC) is based on a ‘City within a City” concept. It has anchored residential development alongside a mall, an international school, a five star hotel and a premium office complex. This development provides the customer a holistic living experience and fulfils the customers’ live, work, play and other lifestyle needs all in the same location,” he adds
Commerz, Mumbai.
Focused mainly on residential developments, Oberoi Realty has also made its presence felt across the retail, hospitality and education sector by introducing Oberoi Mall, The Westin Mumbai Garden City and the Oberoi International School, respectively. Our ongoing projects at OGC include premium residential development such as Oberoi Exquisite and Esquire by Oberoi Realty and commercial developments besides other upcoming phases of residential and social infrastructure projects.
Turnkey Projects
The hard work and success is noticed by its latest award, ‘High Rise Project of the year’ for its ‘Oberoi Exquisite’ project at the fourth edition of Construction Week India Awards 2014 in Mumbai. The company has a portfolio of 36 completed projects across Mumbai comprising 24 million sq. ft.
The Westin Mumbai Garden City
Oberoi Exquisite is one of Oberoi Realty’s most exclusive residential projects situated in Oberoi Garden City (OGC). Oberoi Realty’s flagship to develop and was created with a vision to provide a holistic living experience to its residents. It is a luxury residential project comprising of 3 towers of up to 50 storey each; 3 BHK (Luxury/Grande), Duplexes &Penthouses configuration and is anchored alongside a leading mall, an international School, a 5-Star hotel and a premium office spaces, which fulfils the customer’s live, work, play and other lifestyle needs all at one place. The firm’s projects are designed to maximize the views and give one the feeling of space. For example, the layout of Oberoi Exquisite is designed in a way that the apartments don’t look into each other and therefore provide complete privacy. Also, the living spaces face the lush greens to maximize the expansive views and natural lighting, giving one the feeling of being with nature.
Priviera by Oberoi Realty is an ultra-premium project at Khar (W) comprising one apartment per floor expansive 4bedroom apartments. It which provides the discerning customers the much needed privacy they desire. Designed by Guz, a Singapore based architect who specializes in resort style boutique houses. This project provides 270 degree views allowing for maximum light and ventilation and sea views from higher floors. It also has an infinity pool and other luxury amenities on the terrace.
It’s Oberoi Splendor Grande is an integrated development at the arterial JVLR (Jogeshwari Vikhroli Link Road) that connects the west to the east of the city. The project has close proximity to the domestic and international airport, five-star hotels and nearby central business districts. The project also faces the lush greenery and making the views serene that offers an island of calm from the city’s hustle-bustle.
An on-going project of the company is Esquire by Oberoi Realty that comprises of three towers with beautifully crafted large format apartments in 3 / 4 BHK configuration. This project is part of OGC which comprises the Oberoi International School, Oberoi Mall, The Westin Mumbai Garden City a five- star hotel and Commerz comprising premium office spaces. Larsen & Toubro are the contractor and Eco-Id Architects Pte. Ltd., was chosen as architectural consultant to the project.
Outsourcing Key Functions
Oberoi Realty believes in bringing the best of the world to India in terms of quality, design, style and innovation. “We follow an outsourcing model by partnering with several local and international consultants in the areas of architecture, design, engineering and construction. Our flagship development; Oberoi Garden City has been master planned by Mr. David Blackwood Murray from Love joy, London. In our ongoing iconic mixed-use development at Worli, we have The Ritz Carlton Hotel and Residences that will be managed by The Ritz Carlton. Several leading names such as architectural firm KPF (Kohn Pedersen Fox Associates), USA, Structural consultant LERA (Leslie E. Robertson Associates), USA and Samsung C&T are already on board,” adds Mr. Vikas.
Buyers are Acquaint with Green Concepts
Oberoi Realty believes in protecting the environment by protecting the trees that may come in the way during the development stage of its projects. In such cases plants and trees are relocated without causing any damage to their roots. He says, “This is an exercise which we undertake for all our projects where the green cover gets affected due to our developments. In this way we continue to maintain the greenery around our project which is one of the USP’s of most of our projects. Majority of our projects are energy efficient and take into account the local climatic conditions to make the best possible use of environmental sources rather than working against them.”
Oberoi Exquisite is a part of Oberoi Realty’s flagship development; Oberoi Garden City in Goregaonis being built to be energy efficient. The features of the building design itself such as appropriate orientation, insulation features, water conservation, etc reduces energy requirements by about 10%. Oberoi Exquisite has two alternate sources of water supply other than the Municipality water. Sewage water treatment plant (STP) treats grey water and generates water for flushing and gardening. Rainwater harvesting (RWH), water is collected and channelized through a filter bed into a storage tank and used whenever required or to recharge ground water levels.
The technology involved in incorporating energy efficient features comes at a higher premium, however, the consumer knows the value that will get created by it in the long run. Consumers are willing to pay a premium for products that are sustainable; it gives them a sense of satisfaction to make a small contribution to a greener tomorrow. The customers that buy into Oberoi Realty projects are well-travelled and discerning. They are responsible global citizens, display immense understanding of the significance of energy savings they value ‘responsible luxury’ and companies are environmentally conscious.
Technology as Key Driver
The adoption of the technology will definitely be a major boost for India’s growing economy and a few years down the line and majority of the projects in India shall have incorporated BIM (Building Information Modeling). With the advent of technology in the real estate industry; global best practices such as BIM is helping the industry integrate different phases of design and construction in a very effective manner along with minimizing errors.
"At Oberoi Realty, we are incorporating the world class technology by implementing BIM for our upcoming projects. In addition, there is an increased focus on creating intelligent living spaces through the use of latest gadgets and technology. Digital locks, electronic surveillance systems, temperature controlled homes, wireless communication for Internet and in-house entertainments are some of the latest features incorporated in most luxury homes in Mumbai today," he points out.
Boost Power
Every individual working in our organization brings in different strengths, skills, aptitudes and responsibility. The values and culture at Oberoi Realty are the common thread that binds all these individuals. It is a completely process driven organization and introduced interventions at various levels to identify the strengths and weaknesses of individuals. Post evaluation creates specific training, development programs and workshops to upgrade their skills to aid them take on challenges at the next level. "As an organization we continuously invest in our people to enhance the skills sets to identify and ensure the right delegation and distribution of responsibilities based on individual abilities. We regularly engage our employees through activities, events and celebrations. We also encourage our employees for development of a healthy mind and body with periodic health camps, workshops and seminars," he informs.
Safety Precedes
Safety and health of our construction workforce is of paramount importance at Oberoi Realty. Having a safety checklist in place allows us to effectively secure the work site. “Most accidents occur due to employment of unskilled labour, defective equipment and non-compliance of standard safety procedures followed at most construction sites. Therefore, we adhere to complete safety and security rules while rolling out any project to avoid unfortunate consequences later. Regular safety drills with all workers and employees and even contractors could be useful in preventing accidents. Training from time to time is necessary,” he suggests.
Realty, a promising segment
Oberoi Exquisite
The real estate sector in India has evolved over the years and one of the most potent sectors having maximum growth potential. Residential, commercial, retail, hospitality and other popular needed buildings are some of the spaces that offer long term growth prospects. Today, it has become more professional and transparent in its working as well as dealings with its customers. The real estate sector offers immense opportunities and growth potential for young talent. People looking at a career opportunity in this field can choose from various job options available in the fields such as Engineering, Architecture & Design, Marketing, HR, IT etc.
Mr. Vikas believes that in the coming years the professional acumen will continue to take advantage of the current and future market opportunities. Also, the real estate sector is ever evolving and it has to be at tuned with the changing times. It is required to invest in human capital and attracting the brightest minds from top-notch institutes. Hence, it is required to encourage diversity in the work force and believe in building strong partnership to create a better.”
Affiliation with Ritz-Carlton
Oberoi Realty has a definite vision to create spaces that enhance quality of life. Keeping this vision we recently tied up with The Ritz-Carlton who will be their hospitality partner for its iconic mixed use development in Worli, Mumbai. The mixed use development consists of two high rise towers; The Ritz-Carlton, Mumbai and Residences- managed by The Ritz-Carlton. The project development aims to be a global icon for Mumbai; it will mark the entry of The Ritz-Carlton into India’s financial capital. Strategically located in Worli, less than a kilometer from the prominent Bandra Worli sea link, the development has been designed to be an iconic luxury landmark adorning the Arabian Sea. Oberoi Realty is geared up to meet new phase of growth. Mr. Vikas, adds, "Moreover, we think we are prepared for our second growth wave starting with stand out developments in Mulund and Borivali too. We will continue to evolve our organization embracing futuristic and innovative processes to enhance the speed and quality of construction as well as ensuring that our resources are focused on efforts driving transformational change. Exploring new avenues and developing destinations has been the key strategy we work on and Oberoi Realty aims to expand its geographic base through acquisition of land and development rights".