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ETA Star, Taj develop new Dubai resort

Business Brokerage Property developer ETA Star has anounced a Dhs1.2 billion ($US326.7 million) Taj Exotica Resort & Spa and The Grandeur Residences at the Palm Jumeirah Crescent.

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Forex Broker The project was launched in partnership with India's Taj Group of Hotels.

Chennai. The $5.5 billion ETA Star group will set up three residential, two commercial, one IT park and an integrated township project in Tamil Nadu. "Currently ETA Star is developing over 30 million sq ft that translates into thousand of homes, commercial, retail and hospitality properties across the globe. Of this, around eight million sq ft will come up in India, " said Mr P. H. M. Syed Ismail, managing director of ETA Star Property Developers Ltd.

Online Brokerage The groundbreaking ceremony was attended by Nakheel Executive Chairman Sultan Ahmed Bin Sulayem and Tata Group Chairman Ratan Tata.

Its official! The Taj Palace Hotel Dubai hit a perfect 100% occupancy on a daily basis since end July and for the whole month of August 2003. The enthusiastic French Hotelier, Yannick Poupon, General Manager of the Taj Palace Hotel Dubai, comments Not often achieved by any hotel entity in a busy metropolis like Dubai, achieving a full 100% on a daily basis for a full month seemed an impossible accomplishment. Its a rarity here when you are within a very fierce competitive market. This endeavour represents a solid manifestation of what the Taj Palace Hotel Dubai is capable of achieving. This record success exceeded our very own forecast made from last year; indeed a big leap from 80% in 2002 to this years 100%; all within the traditionally hot summer period. Our mother company, the Taj Group of India, is particularly proud of this achievement we have accomplished, as a relatively new comer in Dubai.

Real Estate Broker "The piling work has begun on the project from Saturday and the full project is expected to be completed by 2008-end or the beginning of 2009," ETA Star Executive Director Abid Junaid told the media in Dubai.

In Dubai alone, there are now approximately a total of 254 hotels with 35 of those, comprising five star hotels. Given this scenario, Poupon adds, With a good mix of hotel properties offering varied services and standards, it is good to note that the Taj Palace Hotel Dubai has managed to stir the competition by acquiring a huge chunk of the market share, especially during summer where results indicated a sizable portion of the leisure group preferred the Taj Palace Dubai amongst many other choices available in the market.

Agency Brokerage Spark The Taj Exotica Resort & Spa hotel is a plush five-star hotel with world class facilities.

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Business Broker The Gradeur Residences is a luxury residential complex to provide residents a lifestyle reminiscent of royalty. The project is modelled on the archetypal palaces of Rajasthan.

Brokerage Account The highlight of the 232-room Taj Resort will be the "Jiva Spa", which will be the largest spa in the Middle East. It will be equipped with double treatment suits, meditation and yoga pavilions.

Stock Broker The Grandeur Residences comprises 200 freehold fully furnished one, two and three bedroom apartments, including ten beach-front villas.

Brokerage Online Stock Trading The prices range from Dhs1.9 million for a single bedroom apartment to Dhs13 million for the four-bedroom villas.

Broker Justin Ticket The sale for the apartments and villas will start from today. All units at The Grandeur Residences will be serivced by Taj Hotels Resorts and Palaces which is known for its experience in hospitality.

Real Estate Brokerage "ETA Star was looking for a right project to foray into the hospitality industry and this multi-billion project provides us opportunity to strongly go into the sector," Junaid said.

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