Radhika to enter 'Service Apartment' segment

Radhika Buildcon Pvt Ltd, a Nashik-based construction company, is planning to enter the ‘Service Apartment’ segment, shortly. The company is planning to launch a chain of service apartments under the brand name ‘Radhikainn’, shortly.

The company has set up a subsidiary ‘Radhikainn Service Apartments’ to develop and run its chain of service apartments. The company will launch its first ‘service apartment’ project in Nashik city by the end of April 2011.

“Today, Nashik has emerged as the major industrial destination and there is no alternative to Nashik as Mumbai and Pune have already reached the saturation levels. Many major industrialists are eying Nashik for their future projects and expansions of their existing units. Moreover, industrialists and businessmen from across the country and abroad frequently come to Nashik for business purposes. With an aim to target these industrialists and businessmen, we are planning to enter the ‘service apartment’ segment, shortly, Radhey Malpani, Director, Radhika Buildcon and Chairman, Radhikainn Service Apartment, told Business Standard.

 

“Our aim is to offer star hotel-like ‘service apartments’ at cheap rates for business class people. Initially, our focus will be in Nashik city only. We are planning to launch our first ‘Service Apartment’ project in Nashik by the end of April 2011. This project is in the final stages of constructions and will be ready in couple of weeks,” Radhey said.

“Our Service Apartments will be a type of furnished apartments available for short-term or long-term stays for corporate world, businessmen & industrialists at cheap rates, which provide amenities for daily use. Radhikainn Service Apartments will offer suit rooms, including facilities like conference hall for business deals and meetings, library, kitchen, Gym, spacious parking etc,” he said, but avoided divulging more details.

When asked him how many service apartment projects are you planning to launch, Radhey said, “Our policy is not to disclose our expansion plans right now and until we launch our first project.”