The biggest Indian housing developer has announced plans to develop properties in London which range from mid-market to super-prime.


With plans of £3billion worth of development in the capital, UK housebuilders are likely to see aggressive competition in London from Lodha Group.


Last year India’s biggest housing developer bought the former Canadian High Commission Building in Mayfair for £306m and Abhishek Lodha, managing director, told the Financial Times "We want to be among the top two developers in London in the next five years. Our idea is to make significant investments, which will come out of the cash flows we are generating here in Mumbai," Lodha said, outlining plans to spend £1.8bn on assets and a further £1.2bn on construction.


The organisation is building the world’s tallest residential tower in the city of Mumbai (where it’s based) and has recently launched a project to build a 75-storey tower in the city in partnership with Donald Trump.


The company was founded in 1980 by Lodha’s father and the ownership has been retained by the family with revenues of around $1.4bn over the past year, with much of that coming from sales in India’s financial capital.


This isn’t the first move in London’s property market from India with since the start of last year around £1bn being spent on luxury property in the city according to Knight Frank.

 

Supplying prodcts to the construction industry it's great to see more companies investing in the UK's construction industry.