11-location plan by Indian investment property firm
Posted by paragjani on November 6, 2008
A prestige real estate developer has announced an ambitious plan for India, which will see investment property spring up in eleven 11 by 2010.
Oakwood Worldwide unveiled a serviced apartments project for Bangalore and said it will offer other units in the likes of Mumbai and Pune within two years.
Future projects will also appear in Hyderabad, Chennai, Kerala and New Delhi, the company added.
The Bangalore scheme is located in UB City, a vast commercial project being built near the centre of town.
Frank Foster, marketing and sales vice president for Oakwood Asia Pacific, said:
“Oakwood Premier Prestige Bangalore combines the most elegant apartment amenities with luxury hotel service and is designed for the upscale international traveller.”
He added serviced units had added benefits compared to hotels and were now popular with corporate and leisure users across India.
Bangalore is one of India’s emerging information technology hubs and is attracting business and leisure travellers from across the globe, Gurmit Singh Chaudhri, general manager of the Oakwood Bangalore scheme said.
India’s real estate market is still worth $16 billion and is expected to post an annual growth rate of 30 per cent to $60 billion by 2010, according to research company Cityscape Intelligence.
Source : www.offplanpropertyexchange.com
