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Raheja Universal Ltd, in association with the Mangalore-based Asha City Builders and Developers, will launch a luxury residential complex – Raheja Waterfront — in Mangalore on March 28.
Addressing presspersons here on Saturday, Mr Prakash Shetty, Managing Partner of Asha City Builders and Developers, said that the project will come up on 45-acre land near Chitrapur beach in Mangalore.
The project will provide nearly 50 lakh sq ft of built-up residential area in Mangalore. Nearly Rs 1,200 crore will be invested in the project, he said.
To a query, Mr Shetty said that the entire project will be completed in five years. In the first phase, there will be two towers of 24 floors each. These towers will be completed in two years, he said.
Mr Ashish Raheja, Managing Director of Raheja Universal Ltd, said that the cine actor Suneil Shetty and his wife Mana will be associated with the project as brand ambassadors for Raheja Waterfront.
The project will be one of the gated communities in Mangalore, he added.
Launching the brochures of the project, Mr Suneil Shetty said that Mangalore is his birthplace and he shares a strong bond with the city.
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