Kolkata, Sep 8 (Inditop.com) Zuri Group Global that runs hotels and resorts under the name Zuri is foraying into the real estate sector in Goa. It has plans to build a cluster of villas and apartments in the coastal state, a company official said here Tuesday.
“While there were construction restrictions under the Coastal Regulation Zone norms, we recently got the nod to go ahead with our project,” communication director Priti Chand of the Zuri Group Global said at a press meet here.
The company has already bought the land for Rs.200 crore and plans to invest Rs.200 crore more in the project to construct 150 villas and 100 premium apartments along with a golf course on 300 acres.
“We plan to complete the project within the next 18 months,” she said.
The Zuri Group, which is promoted by a consortium of investors based in Middle East, has four properties in India – Zuri Whitefield in Bengaluru, Zuri Kumarakom Resort & Spa in Kerala and two properties in Goa, the Zuri Varca White Sands Resort and the Zuri Retreat.
However, the group is now planning to venture into management of hotel properties owned by others.
“We are in an advanced stage of finalising deals in Pune, Ahmedabad, Kolkata and for our second property in Bangalore,” Chand said.
The hotel chain plans to have its brand present in four to five cities in the next three years. Each property would have an average capacity of 150 rooms, she added.
