19 March 2006
Dubai: ETA Star, a Dubai-based property developer, has started work on the Dh1.2 billion Taj Exotica Resort and Spa and The Grandeur Residences at the Palm Jumeirah Crescent.
The projects are being launched in partnership with India's Taj Group of Hotels.
An official ceremony marking the commencement of construction was held yesterday at the Palm Jumeirah and was attended by dignitaries who included Ratan Tata, Chairman of the Tata Group, and Sultan Ahmad bin Sulayem, Executive Chairman of Nakheel.
World class facilities
The Taj Exotica Resort and Spa on the Palm Jumeirah will be a plush five-star hotel complete with a host of world-class facilities, say the developers.
The Grandeur Residences is described as a luxury residential complex designed to provide residents a lifestyle reminiscent of royalty.
The project is modelled on the palaces of Rajasthan. The Grandeur Residences comprises 200 freehold fully furnished one-bedroom, two-bedroom and three-bedroom apartments, including ten beach front villas. The entire facility will be serviced by the Taj Exotica Resort and Spa.
Variety of options
The one bedroom apartments at The Grandeur Residences cover a floor space of 1,121 to 1,236 square feet while the two bedroom apartments range from 1,704 to 2,148 square feet.
All three bedroom apartments range from 2,658 to 2,676 square feet. The prices range from Dh1.9 million for a one bedroom apartment to Dh13 million for the palatial four-bedroom villa.
ETA Star has prepared a variety of options for The Grandeur Residences, including outright sale with furnishings, outright sale where the property is leased back to ETA Star for a minimum of five years, that would make the project appealing to both own and acquire as an investment option.
By Staff Reporter
Gulf News 2006. All rights reserved.
