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EIH Ltd may develop the proposed Goa project as a joint venture. Executive Chairman P.R.S. Oberoi told reporters that the company had not taken any firm decision. But he said the project could be a joint venture.
The company obtained ‘planning approval’ for the 55-acre beach front site at Goa and is awaiting environment clearance. This is one of the two declared project proposals on its own land. The other one is a 250-key Oberoi and luxury branded residences in Bangalore on an eight acre.
The company will manage a property owned by the Reliance group, Navi Mumbai.
Oberoi also did not rule out further such collaborative venture with the Reliance Group, which is a strategic and ‘friendly’ investor in EIH Ltd. Construction of the Navi Mumbai property would begin soon. It will be a 160-key asset, to be managed by EIH under its mid-market brand, Trident
The other upcoming EIH managed properties in the country include a 126-key -- The Oberoi, Pune, and Trident Hyderabad, a 326-key will open shortly.
EIH, Oberoi said, continued to “actively” look for opportunity to manage a property in Beijing or Shanghai. In Morocco, it has proposed to manage another project in the country’s financial centre of Casablanca. The Oberoi, Marrakech in Morocco, is now under construction. This hotel will also be managed by a wholly owned overseas subsidiary.
j >ayanta.mallick@thehindu.co.in
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