In spite of the ongoing global slowdown, Kolkata based real-estate developer, Ambuja Realty plans to unveil three new real estate projects in West Bengal this year, a top company official says. The three real estate projects comprise a 150-room hotel, a mall and an IT park at Rajarhat on the northeastern fringes of Kolkata city.

 

Ambuja Realty chairman Harshavardhan Neotia told the media that, the company would invest Rs.250 crore (Rs.2.5 billion) for building the hotel and the mall. He also said that, they would invest Rs.300 crore (Rs.3 billion) for the construction the IT park called Ecospace. The construction work for the mall and the hotel started in 2006. Ambuja Realty is developing the IT Park in association with Bangalore-based corporate real estate developer RMZ Corp. The construction work for this park started in 2007. Neotia said that, all these projects would be ready in another four to five months.

 

Earlier, taking into account the current economic slowdown, the company has put on hold plans for building three luxury hotels in the northern part of the state. Out of these three hotels, two were to come up at Makaibari in Kurseong and Siliguri (both in Darjeeling district). One such luxurious hotel was planned in Gorumara forest of neighboring Jalpaiguri district.