MD’S MESSAGE

As a group we recognized early that we are not necessarily in the business of real estate development as much as we are in the business of real estate. There is a difference, development essentially focuses on the conversion of land into built property, the business of real estate’ entails the entire value chain starting from land acquisition to apartment handover/commercial lease. The result is that we focused as much on land acquisition as we focused on property building, which is distinctive from most developers who focused more on the latter. So while most real state players have generally acquired land with the objective to develop, we at Arya Realty have often taken a contrasting perspective we have often traded the land parcel with high corresponding investment returns than being restrained to develop it at relatively lower returns and higher corresponding market risks. The result is that Arya Realty has never lost sight of one priority – that it is in business to maximize returns.