The luxury residence located in Gurgaon, near New Delhi, is the company’s second branded real estate initiative. Last month, the company brought in Formula One driver Michael Schumacher to launch The Michael Schumacher World Towers.
It is said that both Schumacher and Sharapova will play crucial roles in the actual design of the properties they are endorsing.
Branded real estate has become the latest buzzword amongst luxury developers, according to a recent report from real estate group Knight Frank. Home buyers are not only demanding luxury amenities such as bars, restaurants and spas, they also want an association with a trusted name. In fact, the research revealed that on average, branded developments had 34 per cent higher value than non-branded ones. The research put it down to the growing number of millionaires around the world.
In India itself there are several branded realty projects in the works. Realty firm Supertech has partnered with Italian brand Giorgio Armani for a luxury project in Noida. A Mumbai-based developer has tied up with Armani for another project in Mumbai. Mick Jagger’s daughter Jade Jagger is also a part of the project.
The Sharapova deal has been brokered by sports marketing agency Total Sports Asia. The company has also been responsible for US Open Apartments, a sports lifestyle development. It is also developing luxury residential project with Swarovski in India.