City Lights

Supertech to invest Rs 600cr to build 255 metre tall tower.

Supertech to invest Rs 600cr to build 255 metre tall tower

NEW DELHI: Realty firm Supertech will invest Rs 600 crore to develop a 255 metre tall residential tower in Noida. The company will offer a total of 1,326 housing units with prices of up to Rs 2.25 crore in the tower that it claims will be the tallest in North India. The project,North Eye,will be the tallest in entire region with 60 floors and 255 metre height. We will invest Rs 600 crore to develop the project, Supertech CMD R K Arora said. Asked about the source of funding,Arora said it would be largely met through internal accruals and advances from customers. The company is in talks with PE players to raise funds.

Shree Naman launches new hotel

NEW DELHI: Mumbai-based Shree Naman Group has announced the launch of its first hotel brand Check Inn in the mid scale segment. The groups subsidiary,Shree Naman Hospitality has officially launched a 43 room hotel under the new brand with plans to open similar properties in Mumbai and Bangalore in the next two years. We are launching the Check Inn brand of mid scale hotel. We plan to open more properties under the brand and launch other brands also to expand the portfolio, Check Inn Hotels CEO Hemal Modi said.

Health Mall coming up in Kerala

KOCHI: Foraying into Health care sector,the Rs 500 crore Real estate company,BCG Group,is setting up Keralas first health mall here,bringing under its umbrella doctors,investigation centers,health and wellness retail products. Called BCG Healthsquare,the rs 50 crore project at nearby Palarivattom is nearing completion and is expected to be commissioned by August this year,Rekha C Babu,CEO of the group said. The mall is spread over 1,10,000 square feet area and would bring in all health related facilities under one roof.

Office costs to grow fastest in Asia Pacific

LONDON: Global occupancy costs for prime offices will rise by 2.5 per cent on average a year from 2011 through 2015,driven by increasing demand for floor space in the dynamo economies of China and India,a survey showed on Thursday. Property consultant DTZs. The consultants Global Occupancy Costs poll found the biggest cost growth for regional prime offices would be in Asia Pacific,up 3.7 per cent a year on average from 2011 to 2015,aided by above average rises in China and India. The strongest increases in costs to 2015 are projected in Bengaluru,Hong Kong,Singapore,Beijing and Chennai, DTZ said,noting occupancy costs included rents and outgoings,such as maintenance and property tax.