Rocky Israni Founder &Managing Director, Pacifica Companies
As one of the founding members of the Pacifica Companies in 1994, I was involved in the U.S. residential and lodging operations and development of the company. In 2005, I moved to India and started India operations. The FDI in Indian real-estate market was opening up at that time and I saw the opportunity of growth for the company here, in spite of lot of ambiguities in terms of governance, sanctions and plan approvals which were challenging but not a deterrent.
It has been a very satisfying journey; I couldn’t have done anything else.The real achievement is the expansive growth as an employer and customer preferred company.
When we started in 2004, we started in a small office with a handful of people determined to attain a strong hold in the Indian real estate arena. Our exponential growth over the past three decades can be attributed to maintaining high level of liquidity, and having a knack for finding the right real estate at the right price. The company headquartered in Ahmedabad with branch offices in NCR, Bangalore, Chennai, Hyderabad and Vadodara.Pacifica Companies has taken a quantum leap by diversifying into a partner venture, with Kesar Group and Futura Group, called Nebula Companies. We employ over 250 people and our customers are our biggest assets.
The approach to real estate investing is based on opportunistic investing strategy and desire for continuous growth and diverse portfolio in terms of asset classes and geographic locations. We aspire to create projects in several cities in India.
When we started our projects in Ahmedabad at Prahaladnagar and Thaltej, Green acres and La Habitat respectively, the locations were not fully developed at that time. Fast forward to today, these areas consist of the prime locations of Ahmedabad. We do not develop projects with a short term and immediate result in mind. We aspire to acquire a long term value for our projects by acquiring lands in prospective developing areas, providing futuristic amenities and maintaining a trend of delivering beyond expectations of our customers.
In Chennai, Pacifica made its mark by constructing a 1.1 million square feet state-of-the-art integrated Information Technology Park spread across 7.29 acres of land on Old Mahabalipuram Road. Another star project of Chennai is Aurum, which is a township comprising residential towers & villas. In Vadodara, Madrid County Township and Casa Lakeside Villas received critical acclaim because of the exotic elegance, immaculate location and pricing.
We are proud of the fact that Ahmedabad’s first 5-star hotel, Courtyard by Marriot was constructed by Pacifica in the year 2009 and just like that we received the reputation of being a pioneer in introducing premium hospitality to Ahmedabad. Another hospitality project by Pacifica based in Bangalore, Courtyard by Marriott is under construction.
India’s middle class population has grown to desire a higher quality of life, and Pacifica aims to address their issues in the years to come. In the last one year, we have successfully provided homes to 5000-6000 families. We have reached this level of appraisal and reputation partly because of the support and love of our customers, for which we are grateful.
The market is getting matured, REITs will be realty soon, and there is whole lot of opportunities for the professionals. This is the time to be part of the industry which is getting transparent and corporate.I believe that our comprehensive understanding of the international market place and adept experience clubbed with the rationalized foreign investment policies in India will enhance Pacifica’s foray in India in the years to come.
My target is to achieve about 100 million square feet of ‘Assets under development’ with presence in six -eight cities and have at least two-three projects live in each one of these cities. This is not an easy target but we have laid a Year-on-Year growth plan which will take us there in the next eight years.”
The success tactic I have exercised throughout my journey is to adapt to the changing market trends and condition as well as work hard to fulfill the market’s needs.