Construction is about to begin in full swing at the Emaar-MGF 6.24-acre property beside Silver Springs complex on EM Bypass. Talks have it that there will be 2 hotels in that land – a 300-room JW Marriott and a 250-room Holiday Inn. [Picture on the left that of Marriott Hotel on Orchard Road, Singapore; Image source]
When the 2 come up by 2010-end they will have ITC’s Sonar Bangla to give company close by, and a DLF hotel to the north not very far.
Emaar Group’s growth pang will see yet another property, 300-room Park Hyatt, coming up at the RCTC land on Russel Street. There again the Park Hotel is close by.
Not content with hotels only, the realty major is also building an integrated township on a 40-acre plot along the Kona Expressway, which will have a 100-room budget hotel among other amenities.
If all these investments – by Emaar or Jindals (refer last post) – look big, they truly are. Yet they pale before the scale of projects being increasingly planned in Bengal.
For example, SAIL will, apart from Burnpur, spend Rs.20000 crore in Kulti and Durgapur. And, if rumors are to be believed, L&T Power Development plans to put in another Rs.20000 crore in Haldia power plant.
Does it therefore surprise that in the third quarter of the current fiscal the state has received the highest number of investment proposals in the country? The figure is mind-boggling Rs.1,27,302 crore.
Like this blog? Get daily posts by email.
Leave a Reply