Ambuja Neotia partners with Apeejay Surrendra for Park Unizen project
Branded Residences Come to EM Bypass
Apeejay Surrendra Park Hotels and Ambuja Neotia have jointly announced the launch of The Park Unizen, a hospitality-integrated development of 69 serviced residences on EM Bypass. The project marks the first collaboration between the two Kolkata-headquartered groups, both of which have shaped the city's hospitality and real estate landscape for decades.
Integrated Design and Scale
Designed by global architecture firm Gensler, the development draws inspiration from the Sundarban mangroves, reflected in its vertical articulation and climate-responsive façade. The common areas and club interiors have been designed by Bobby Mukherrji Architects, incorporating curated materials and contemporary detailing.
An elevated wellness terrace featuring a panoramic pool and landscaped leisure spaces forms a key element of the project.
The Adjacent Hotel Component
The adjacent THE Park Hotel, also designed by Gensler, will comprise 218 rooms along with banquet facilities, dining venues, nightlife spaces and wellness amenities. The development also features an air taxi landing facility. Both projects are targeted for completion by 2030.
Market Response and Revenue
Market response has been robust, with 25 out of 35 apartments in the first block already booked. Apeejay Surrendra Park Hotels Ltd expects to raise around Rs 350 crore from the 69-unit serviced residence project, with the proceeds set to fund the upcoming 218-key luxury hotel.
Developer and Brand Context
Ambuja Neotia is one of the most prominent and respected corporate houses headquartered in Kolkata, with its forte in real estate and subsequent forays into hospitality, healthcare and education. The company, under the stewardship of Harshavardhan Neotia, has been responsible for landmark projects in and around Kolkata. Some landmark projects include Upohar-The Condoville and Udayan-The Condoville at EM Bypass, Kolkata.
Apeejay Surrendra Park Hotels Limited is the 8th largest hotel chain amongst hotel chains with asset ownership in India. The group has long-standing expertise of over five decades in the hospitality business, pioneering the concept of luxury boutique hotels in India under its brand, THE Park.
The Mixed-Use Strategy
The combined developments are intended to strengthen EM Bypass as a mixed-use lifestyle destination and to reinforce the corridor as a principal growth axis in Kolkata's urban expansion. Industry executives said such integrated developments enable hospitality companies to unlock land value while mitigating capital intensity of hotel projects, particularly in premium urban corridors.