Property developer ETA Star has anounced a Dhs1.2 billion ($US326.7 million) Taj Exotica Resort & Spa and The Grandeur Residences at the Palm Jumeirah Crescent. The project was launched in partnership with India’s Taj Group of Hotels.
The groundbreaking ceremony was attended by Nakheel Executive Chairman Sultan Ahmed Bin Sulayem and Tata Group Chairman Ratan Tata.
“The piling work has begun on the project from Saturday and the full project is expected to be completed by 2008-end or the beginning of 2009,” ETA Star Executive Director Abid Junaid told the media in Dubai.
The Taj Exotica Resort & Spa hotel is a plush five-star hotel with world class facilities.
The Gradeur Residences is a luxury residential complex to provide residents a lifestyle reminiscent of royalty. The project is modelled on the archetypal palaces of Rajasthan.
The highlight of the 232-room Taj Resort will be the “Jiva Spa”, which will be the largest spa in the Middle East. It will be equipped with double treatment suits, meditation and yoga pavilions.
The Grandeur Residences comprises 200 freehold fully furnished one, two and three bedroom apartments, including ten beach-front villas.
The prices range from Dhs1.9 million for a single bedroom apartment to Dhs13 million for the four-bedroom villas.
The sale for the apartments and villas will start from today. All units at The Grandeur Residences will be serivced by Taj Hotels Resorts and Palaces which is known for its experience in hospitality.
“ETA Star was looking for a right project to foray into the hospitality industry and this multi-billion project provides us opportunity to strongly go into the sector,” Junaid said.