Speaking to dna, Suraj Morajkar, managing director, Sun Estates, said, "With 20 private pools, it's going to be one of the biggest projects in the coastal belt of North Goa. We have got on board a topmost American hospitality chain to operate and manage the property. It's a Rs 300 crore resort development and will be soft-launched in the next four to five months."
Sun Estates, the Goa-based realtor which also owns and operates a boutique hotel under the Sol de Goa brand, is set to expand its hospitality portfolio and will be adding two more projects in the coming years. The first one to open is an upscale luxury hotel overlooking the Candolim beach in North Goa. This project is in very advanced stage of development and will get fully operational sometime in the second half of the calendar year 2017.
Speaking to dna, Suraj Morajkar, managing director, Sun Estates, said, "With 20 private pools, it's going to be one of the biggest projects in the coastal belt of North Goa. We have got on board a topmost American hospitality chain to operate and manage the property. It's a Rs 300 crore resort development and will be soft-launched in the next four to five months."
While Morajkar did not share details of the hospitality operator, dna has learnt that the resort will be operated by Hilton Worldwide under its Hilton brand. In fact, hospitality major's website has listed the resort on its website saying the hotel will soon join the Hilton portfolio of brands and that it's scheduled to open in November 2017.
The upcoming project is spread over seven acres wherein the resort will be developed on approximately 180,000 square feet. Singapore-based company Blink Design is doing the building and interior design of the resort which will open in three phases. The first phase will see 104 units getting operational while another 40 units each will be launched in phase II and III. Approximately 40% of the capital expenditure of Rs 300 crore is being invested by Morajkar and the balance through debt from ICICI and Corporation Bank.
The second project is a serviced apartment development that's also being planned in North Goa. The project is being developed on a little over one-acre land parcel located in the vicinity of hotel Taj Aguada. According to Morajkar, the property will be developed using a fractional ownership concept. "We will sell the suites spread across 700-800 square feet and priced a little over a crore to individuals. There will be 80-90 such units and the buyer only pays 25% upfront and another 25% over the next two years of the construction phase.
"Once the property is fully constructed and ready for occupation, it will be taken over by a hotel management company which will operate it as a serviced apartment and provide regular income to the owner of the suite. So while the property will itself pay the balance amount through the rental income generated, the suite owners will also have the opportunity to use it as a holiday home any time of the year when visiting Goa. This apart, the buyers also benefit from the appreciation in the value of the property and also have the option to exit their unit," said Morajkar.
The realtor is in talks with 2-3 hotel operators to operate and manage the hotel once it gets ready. In fact, it has already signed a Letter of Interest (LoI) with Carnation Hotels, a subsidiary of Lemon Tree Hotels. Rattan Keswani, chairman, Carnation Hotels, confirmed that a LoI is already in place for the serviced apartment project.
Veggie breakfast range
MTR Foods is introducing a first-of-its-kind range of breakfast products viz. Veggie Idli Mix and Veggie Vermicelli. The products, available in three variants of spinach, carrot and beetroot, have more than 40% vegetables blended into the products using breakthrough technology. The Veggie range is a combination of a great taste of idli and vermicelli with the wholesome goodness of vegetables. According to Sunay Bhasin, chief marketing officer, MTR Foods Pvt Ltd, the new veggie range was conceptualised and launched with the insight that parents are always looking to add vegetables to their children's diet. "Children, on the other hand, do not like vegetables and resist eating them. The 40% inclusion of vegetables makes the veggie range a delightful combination of the great taste of popular breakfast dishes like idli and vermicelli with the goodness of vegetables," he said. The veggie range is priced starting at Rs 22.
Silver for HubTop
TTK Prestige, India leading kitchen appliance brand, has won the 'Silver' award for its 'Hobtop' at the International Design Excellence Award (IDEA) in the USA. Accordingly, the Hobtop, which beat 1,700 projects submitted from 30 countries across the world, will be added as a permanent exhibit at The Henry Ford Museum in Michigan, USA. HobTop is a four-burner gas cooking appliance which can be used either as a freestanding cooktop or installed as built-in hob as per user's preference. It is the first and the only solution offered in the Indian market to be used as a product compatible with both the kinds of installations. Compared to any existing burner in the market, the Hobtop's burners are designed for over 70% thermal efficiency, with 50% reduction in carbon emissions. It also uses significantly less but better components for manufacturing and assembly.
–Compiled by Ashish K Tiwari
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