ETA Star India Launches First Residential Project in Chennai, India
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Move represents start of company's AED 11 billion investment foray into Tamil Nadu region
May 1, 2007
ETA Star, the first freehold property developer in the region to receive an ISO 9001: 2000 certification, has recently launched its first residential project in Chennai, India, representing the start of the company's AED 11 billion investment foray into the Tamil Nadu region.
Construction will commence within the next few months on the AED 80 million 'Jasmine Court' residential development, offering investors mixed-size apartments distributed over 4.4 acres of landscaped property near the Chennai International Airport, with facilities including a children's play area, a swimming pool, a gymnasium and basketball court.
"We are very excited about Jasmine Court as we have already achieved major success with our two residential developments 'Binny Crescent' and 'The Gardens' in nearby Bangalore. Chennai is a great place for property investment at the moment as it is the third largest commercial and industrial centre in India and it attracts a large number of professional residents and also many tourists who come to visit the numerous sporting venues in the city," said Abid A. Junaid, Executive Director, ETA Star.
"We are aiming to redefine the Indian real estate industry by offering investors projects like Jasmine Court, which promote the concept of affordable luxury by building better living environments at a lower cost," Junaid added.
Incorporating the Jasmine Court development, ETA Star has also recently announced its plans to invest more than AED 11 billion on five additional projects in Tamil Nadu, including an exclusive integrated Township in Sriperumbudur. Construction on the Township will commence in 2008, with up to AED 10 billion allocated to the 1,200 acre project.
Non-residential developments are also under construction by the leading property developer, such as shopping malls and an information-technology park. By capitalizing on significant reserves of land purchased during the last ten years, the company has also earmarked up to AED 1.7 billion for the development of real estate projects in other parts of India.
"The Jasmine Court development is perfectly positioned to become a major success as it is strategically located, designed for quality living, aesthetically beautiful and built with quality products. By partnering with renowned architects and building specialists, we are building quality projects based on confidence, trust and credibility," Junaid concluded.
ETA Star is one of the Middle East's leading property developers and is involved in many high profile projects such as the Palm Jumeirah, Dubai Marina, International Media Production Zone, Jumeirah Lake Towers District, Dubai International Financial Centre and Business Bay. With the backing of the multi-billion dollar ETA Ascon & Star Group, ETA Star has the advantage to source all areas of expertise in-house from conceptualizing, designing to construction and property management.
To learn more about the projects underway, please log on to www.etastar.com
ETA Star Property Developers LLC is the property development arm of the ETA-Ascon Group. The company's prime objective is to harness the growing commercial opportunity in Dubai's freehold market.
Developments over 5 million square feet of built-up area are already underway and many more are planned over the coming months. ETA Star's portfolio currently includes prestigious commercial and residential properties such as 23 Marina, Liberty House, Goldcrest Executive, Goldcrest Views - 2, The Belvedere and The Palladium. In addition, ETA Star is developing commercial and hospitality projects at the DMC complex, Palm Jumeirah Crescent, Port Saeed, Salahuddin Road and other prime locations in the U.A.E. ETA star is also developing major residential & info-tech parks in India & Sri Lanka.
