| Textile major KSL and Industries said that it was in talks with four or five major hotel groups to run the 400-room five-star hotel which will form part of the Empress City, the upcoming integrated township project which KSL is developing over a 25-acre land in the heart of the city.
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| Without divulging the details, S S Tayal, the president of Reward Real Estate Company said, “We have talked with four or five major hotel chains but are yet to reach a final decision.”
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| The real estate company is a 100 per cent subsidiary of KSL and Industries. KSL purchased Empress Mills No 4 last year and is developing the Empress City on a former mill property near Gandhi Sagar Lake.
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| The promoters have already spent Rs 100 crore in purchasing and developing the property, said S P Tayal, the chairman of KSL and Industries. He added that by December 2007, the project would be completed and by then, the company would have invested over Rs 400 crore. “It is a prestigious project for us as it is KSL’s first real estate venture,” he said.
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| Empress City will have an IT Park, a five-star hotel, the city’s largest shopping mall, multiplexes and around 600 luxury residential apartments. While the apartments and a part of the IT Park will be outrightly sold, the other properties will be leased out, Tayal said. “We will thus continue to remain committed to the project,” he said.
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| The foundation work of the proposed 10-storey IT Park, shopping mall and residential apartments have already begun. Bookings for the apartments will begin in January, while the IT Park and shopping malls are being marketed by an independent sales agency.
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| There will be facilities like a club house, swimming pools, health club, jogging park, playgrounds, indoor games complex, community halls, etc in the complex. A round-the-clock power backup service is also being arranged.
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| Around 10-15 towers, 10-storeyed each, will be constructed as residential apartments. All the buildings in the project, which include apartments will be fully air-conditioned. In an area of 1 lakh sq ft, basement-parking and landscaping will be done. The promoters have roped in the best names in the construction industry for the project.
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| The township has been designed by noted architect Hafeez Contractor.
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| The structural consultants of the project are Y S Sane & Associates, while the contractors for the same are Shapoorji Pallonji & Company. Singapore-based Site Concepts, will be the landscaping consultants, while Trammel Crow Meghraj will be the property management consultants. |
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