ETA Star to Invest USD 923 mn in Chennai

May 30, 2007	(1 votes, average: 3 out of 5)  Loading ...
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In a bid to tap the growing demand for residential projects in India, ETA Star Property Developers Ltd, a group company of Dubai-based ETA Ascon, has announced to invest USD 923 million to construct an info-tech park in Chennai.

The IT Park, to spread over an area of 100 acres would home leading software companies such as Microsoft, Intel, IBM. Its commercial part will be developed as a part of mega residential project.

This is part of a 350 acre IT Township project which will accommodate residential units spread across 200 acres, says Syed M Salahuddin, managing director, ETA-Ascon Group.

The project will also include 17.5 million square feet for the construction of apartments, row houses, bungalows, shopping arcades, hospitals, schools, hotels, and service apartments.

With this upcoming project, the group’s total property investment in India shoots to Dh16.44 billion so far. The company has introduced its first residential project in Chennai as a part of Dh11 billion investment project in Tamil Nadu.

ETA Star is keenly scouting investment options in India and will narrow down on the best once it gets handful of them, adds Salahuddin.

Another project in the company’s pipeline concerns Jasmine Court residential development. It will commence within next few months offering investors mixed size apartments spread over 4.4 acres of landscaped property in proximity to Chennai International Airport, with an array of facilities including swimming pool, a gym, and a basketball court.

News Published Under:   Chennai, Real Estate Developers |

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