India: BridgeStreet has announced a 20-year, tri-party agreement with developers JNB Group and Homestead.
BridgeStreet will provide property and facilities management for two new luxury residences by Homestead – Michael Schumacher World Tower and Ballet by Sharapova, both in Gurgaon. The agreement also entails a comprehensive long-term commitment to exclusively collaborate on future Homestead serviced apartment developments throughout the world.
Sean Worker, ceo of BridgeStreet, said: “As India globalises and its economy expands, a number of business and tourism opportunities emerge, prompting long-term demand for upscale residential developments, associated property management expertise and serviced apartment offerings. BridgeStreet looks forward to meeting the growing demands of residential buyers and incoming business and leisure travellers with JNB and Homestead, reputable investment and development companies with a successful track record in the region. Our newest brand extension ‘Exclusive by BridgeStreet’ is the perfect fit for these two stellar properties.”
Exclusive by BridgeStreet is the brand’s recently introduced line of “ultra-luxury, signature residences”. These developments will feature “celebrity-designed and endorsed lifestyle experiences with exquisite six-star quality furnishings, fittings and finishes”, as well as the BridgeStreet Concierge Gold service.
A new company, BridgeStreet JNB Management, will oversee all management aspects and maintenance services for the Michael Schumacher World Tower, in the vicinity of IGI airport and Delhi, and Ballet by Sharapova, in Sector 73.
“We’re thrilled to continue expansion of our existing relationship, as both BridgeStreet and JNB Group are global leaders in their respective sectors,” states TJ Barring, president of JNB Group. “With more than 50,000 apartments spanning 60 countries, BridgeStreet boasts vast expertise in the hospitality, property management and serviced apartment industries and when coupled with JNB’s vision to identify and execute lucrative opportunities in existing and emerging markets, it yields a mutually beneficial relationship.”
“The extended relationship with BridgeStreet and JNB is a gateway to the future, especially as India continues its pattern of steady growth in the hospitality sector,” states Manoj Shrivastava, chief operating officer of Homestead. “With the help of BridgeStreet’s international expertise and JNB’s proven operational background, we envision a future where people will live, work and play in spaces that ultimately enhance their quality of life at both Michael Schumacher World Tower and Ballet by Sharapova.”
The agreement comes shortly after BridgeStreet signed a 10-year agreement with Silverglades to manage a serviced apartment property at Merchant Plaza in Gurgaon’s Sector 88.
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