News & Views on Indian Real Estate

Thursday, August 21, 2008

Dubai-based Developer's Project in Mumbai to take shape in October

Dubai-based based Sternon Real Estate and Mumbai-based Garnet Construction said their NRI township,'Magic Hills Residences' in Navi Mumbai will start construction works in October and complete the first phase in 18 months. Mr. Hussaini F. Nalwalla, Managing Director of Sternon Group, said, "The main benefit for NRIs who booked in the first phase of Magic Hills is that they will enjoy a huge price advantage, as the rate has already appreciated three-fold. We understand the delay in the start of construction has caused concern among some sections of NRIs, but we assure all investors that the project is all set to take off from October." The project is being marketed exclusively to non-resident Indians, especially in UAE. The project has attracted global interest, and Phase 1 has already been sold out.

manish said...

Al Fara'a Properties, sister concern of the Al Fara'a Construction, Industrial and Property Group, will launch a series of new real estate projects collectively valued at Dh10 billion within Dubai's most sought-after real estate sectors by the end of 2008.

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