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Construction : Web Exclusive | February 2013 | Source : Construction Update

ABIL Group to build 2 hospitality units in Goa, Navi Mumbai

By deciding to set up resort/hotel units in Goa and Navi Mumbai, Pune-based real estate developer ABIL Group has diversified into hospitality segment. It is setting up a new luxury resort at Vagator Beach in Goa and a luxury hotel in Navi Mumbai.

The resort comprising 120 villas and 15 chalets located on 22 acres of land is expected to become operational at the end of 2014.

The Rs 230-crore project is being built in partnership with Indiabulls Real Estate, on what was formerly Sterling Resorts. The Avinash Bhosale-promoted group currently has a portfolio of four hotels.

It owns 50 per cent stake in Sun-n-Sand at Pune and Nagpur and Westin at Pune, while the fourth, Shangri-La, a luxury five-star property at Lower Parel in Mumbai, commenced operations in December 2012.

Built in partnership with Phoenix Mills, ABIL owns 28 per cent stake in the Rs 1,300-crore venture. The 390-keys hotel will be fully commissioned by May.

It plans to open a new hotel every two to three years. ABIL has procured five acres of land in Navi Mumbai for a luxury hotel and will proceed with construction once the plans for new the airport are finalised.

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