Oswal Realty ties up with UAE-based realty developer
Oswal Realty today said it has entered into an agreement with UAE-based company, Star Giga, for sale of their residential towers Goldcrest Dreams 2.
By PTI |
MUMBAI: Oswal Realty today said it has entered into an agreement with UAE-based company, Star Giga, for sale of their residential towers Goldcrest Dreams 2.
"Star Giga is constructing three residential towers at an investment of nearly 918.11 crore. Depending on the number of flats we sell in the country, we get a certain percentage of the revenue," Oswal Realty Director, Vicky Oswal, said here.
Oswal Realty is responsible for the promotion and advertising of these flats in Mumbai, Giga Manager-Sales, Alina Nanoo, said here.
Star Giga, is a joint venture between the real estate developers ETA Star of Dubai and Pakistan's Giga International Group.
Goldcrest Dreams 2 is scheduled to be completed by July 2009. The three towers, built on an area of 18,000 sq ft, offers houses in the range of 3,32,000-5,37,000 dirhams.
"We have 80 per cent of our overseas clients from India and Pakistan. So we decided it was time to come directly to the country," Nanoo said.
The company would also be promoting Goldcrest in Africa, London and Qatar, she said, besides offering one primary visa and four dependent visas on purchase of a house in Goldcrest.
Oswal Realty, which recorded a turnover of around Rs 10 crore in 2006-07, has three residential complexes coming up in Mumbai and Nagpur along with a mall and a school in Mumbai over the period of next three years.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
