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Max Ventures & Industries Limited (MaxVIL), one of the three holding companies of the $4-Bn MaxGroup, today announced that Max Estates Limited, the real estate arm of the company will acquire100% of equity in Accord Hotels and Resorts Private Limited for Rs. 306 Crores. Post the acquisition,the saidcompanywill becomea 100%subsidiaryofMaxEstatesLimited.

Accord Hotels and Resorts Private Limited holds a fully paid up ~10-acre land parcel located in Sector128,Noida, whichwill enable MaxEstatestodevelop a mixed-useresidential community

This mixed-use residential project will have an estimated saleable area of ~1 Mn Sq. Ft. The project isplanned to be developed in multiple phases with a total sales potential in excess of ~Rs. 1,300 Croresandwillcatertothepremium endoftheresidentialmarket.Thefirstphaseisplannedtobelaunchedinfirsthalfof nextcalendaryearandexpectedtobe delivered within3yearsoflaunch.

Commenting on the transaction, Mr. Sahil Vachani, MD & CEO, MaxVIL said, “After successful trackrecord in commercial real estate segment, we are very pleased to announce our foray into theresidential segment through this transaction. Located right on the Noida Expressway in Sector 128,thislocationwouldoffer excellentconnectivitytoandfrom Delhi, andrestofNoida.

This offers a fantastic opportunity to fulfil our vision and implement our ‘LiveWell’ philosophy for theresidential segment, which will focus on curating an ecosystem of spaces and amenities that willsignificantly uplift the living experience of customers. The current opportunity due to a multitude offactors including prime location, shape, and land use will enable us to create an unparalleled flagshipdestinationwithinDelhi-NCR.”

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