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Hyderabad May 19 The Bangalore-based Global Entropolis Asia Ltd has enlisted the services of Jurong International of Singapore for a Rs 900-crore techno township proposed at Visakhapatnam.

"Once the environmental clearance is received, we will begin construction. We expect to complete the entire project by 2010. However, first deliveries would begin next year itself," said Mr K. Ramana Reddy, Managing Director.

Addressing a press conference to announce the launch of the project, Mr Reddy said a corporate house had already approached the company with an order for about 500 apartments.

He added that the call centres set up at Bangalore, Hyderabad and Visakhapatnam had received "overwhelming response."

The company is in parleys with at least three private equity players and is likely to close a deal shortly with at least one of them for the project, which is being implemented with 20:80 equity-debt ratio.

The project envisages development of eight million sq feet of residential and office space, along with five-star hotel, mall, school and other modern amenities, besides hosting 360 villas and 3,400 apartments.

The company plans to shortly announce another major project in Hyderabad, with which it would have nine projects in execution, including one at Udhagamandalam (Ooty) for corporate guest houses, one residential space project on Old Mahabalipuram Road in Chennai and three projects in Bangalore.

The site for the 80-acre project has been acquired from the Vizag Urban Development Authority.

More Stories on : Alliances & Joint Ventures | Real Estate & Construction | Andhra Pradesh

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