Indian luxury project developer eyes UAE investors

Date : May 27, 2014

Raffles Residency Private Limited, an entity of the Singapore based Jumabhoy family specialising in luxury residences, has announced that it is targeting UAE investors for its maiden real estate venture in India called Raffles Park.

Previews of the development have been scheduled for 30 and 31 May in Dubai and on 1 June in Abu Dhabi.

The company said in a statement that the events aim to draw the interest of high net worth investors in the UAE and the wider region seeking bespoke residences in the garden city of Bangalore in India.

Raffles Park is taking shape in the prestigious residential locality of Whitefield. Designed by Singapore’s award winning Warner Wong and WOW architects, Raffles Park has been planned as a garden enclave with 61 five-bedroom villas spread across 15 acres.

The developer said Raffles Park "blends the signature ambience of Singapore and Dubai to offer warmth, security and a smart address to each investor".

As part of the developer’s priority to create ‘homes within a garden’, Raffles Park will feature just four villas per acre, it added.

The Jumabhoy family is well-known for shaping and managing the Ascott Executive Residences, the first ever international chain of serviced apartments.

Iqbal Jumabhoy, joint promoter, Raffles Residency, said: “The UAE is an extremely important market for our flagship project in India.

"It is a mature real estate destination, with residents exposed to upscale developments and state-of-the-art amenities. Evidently, the NRIs settled here have an appetite for world class facilities that we will now offer them in their home country.”

Jumabhoy added: “We are happy that our foray into India has met with a favourable response. The flagship project was announced in India during end 2013. We held a preview cum sale event in Singapore during early 2014.

"Almost, the entire inventory that was released as part of Phase I and Phase II of Raffles Park has been booked. These are already under construction, with the development scheduled for completion by June 2016.

"Our upcoming preview in Dubai will showcase the offerings of the exclusive project besides highlighting the villas that are available for booking as part of Phase III.”

Source And Courtseyy By :- http://www.constructionweekonline.com/article-28339-indian-luxury-project-developer-eyes-uae-investors/