Real Estate: Group Ramdenee Embarks on Project RES

This project, at a cost of Rs 190 million, will be made under the Real Estate Scheme (RES), with the same South African partners as the previous project, Andrew Smith, director of a property development company and the Development Manager Matala project.

The first phase of The Marina Terrace will include 16 luxury apartments with an area of 200 square meters each. The cost of an apartment is around Rs 16 million. And next month, the marketing will be launched.

"With this project RES, we want to reach another market that Matala, which is a project of Integrated Resorts Scheme" confidential e Andrew Smith at the Express. According to him, one of the biggest drawbacks in the implementation of housing projects is the time required to obtain permits from various agencies concerned. "For the project Matala, it took us two years to get everything, and in the meantime, we lost 20% of customers who had made reservations. They left without buying anything, "says our interlocutor.

The project includes construction of Matala 70 villas, conducted in two phases. For the first phase, about thirty houses are awaited. It will be completed at the end of the year. The first villas will be delivered to their owners in February 2013. The construction of the rest will begin before the end of the year. It will be finished in 18 months. "The average cost of a villa is around Rs 30 million," says Andrew Smith. The total project cost is for its Rs 2 billion.

Moreover, proponents of Matala intend to innovate in social contribution. An area of ??two acres will be available to residents of Black River for vegetable crops and aquaculture. The land will then have the necessary infrastructure: irrigation, ponds and others. "These activities are expected to generate about 60 jobs. With the IRS and RES projects in the region of Black River and Tamarin, where more than 400 villas and apartments are under construction, this should help people of Black River in marketing their products. There will even be a shop where their agricultural products will be sold, "said Andrew Smith. He also expressed the intention of the promoters' of another project in Tamarin RES ", stating:" Our investment will now be focused on the res. "