The Hindu : Business : Condor to invest in five projects in State capital

Online edition of India's National Newspaper
Saturday, Jun 17, 2006

Business

Business

Condor to invest in five projects in State capital

Special Correspondent

Four residential complexes likely to be completed by 2008

THIRUVANANTHAPURAM : Condor Builders Private Limited, a Dubai-based company with construction activities all over West Asia, has firmed up plans to invest in five major projects in Thiruvananthapuram.

The total outlay on these projects is expected to touch Rs.200 crores, company's managing director Sivaprasad told presspersons here.

He said a modern shopping complex at Pattom in the heart of the city, with a four-screen multiplex and an 80-room hotel was one of these projects. It would require an investment of around Rs.100 crores and was expected to be completed in 2008, he said.

Mr. Sivaprasad said Condor was negotiating with certain leading retail network companies in the country for leasing out shopping space in the proposed complex.

He said the other four projects were in the housing sector and together these would entail an investment of around Rs.100 crores. These projects would altogether have 300 apartments.

He said work on one apartment complex at Vazhuthacaud in the city, Marigold, had already begun. This project, meant for high-end customers, would be completed in 2007. The remaining three residential complexes were expected to be completed by 2008, Mr. Sivaprasad said.

He said his company would be primarily targeting Keralite non-residents in West Asia.

Mr. Sivaprasad said Condor, establisheYd in Dubai 23 years ago, had to its credit more than 150 projects including palaces and shopping malls in various West Asian countries. It had won the Dubai Municipality's Best Construction Group Award in 2004.

Condor had built the first-ever Green Building in West Asia. It was rated the 15th Platinum-rated Green Building in the world. The rating is for incorporating the concept of high-performance and energy efficiency in construction.

Mr. Sivaprasad described his company as a vertically integrated entity, with a well-equipped and automated carpentry section, a sophisticated electro-mechanical section and an aluminium and steel fabrication unit in West Asia.

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