Dewa Projects to launch premium housing project in Kochi

The Thiruvananthapuram-based Dewa Projects has announced the launch of a seven-tower, 24-storey residential project housing 605 waterfront apartments on Marine Drive in Kochi. The Rs 600-crore project, christened Pier 20, will be formally launched by the chief minister, Oommen Chandy, on Thursday at the 6.4-acre site where the project is coming up. Addressing a press conference, Venugopal Nair, chairman and managing director, said the project will house luxurious 1,200-2,500 sq ft two and three BHK apartments, in addition to a few four-bedroom and five-bedroom duplex penthouses. The first three towers will be completed by 2014 and the others by 2015. Designed by leading architectural firm CPG Corporation, Singapore, and ensuring a minimum 45-degree to 180-degree water-frontage view for each flat, the project will have all the high-end frills to match Marine Drive's upmarket image. The other amenities included a Sky Club on the 24th and 25th levels, with party hall, sky-lounge, guest and 3-BHK serviced apartments and a sports centre, he said, adding that the apartments are priced at Rs 5,500 per sq ft. “We will also have a 50x50 sq m Olympic Pool, the largest ever of its kind in a residential project; a 2 lakh sq ft Podium Garden, again the largest on Marine Drive, and three levels exclusively for car parking. The 4,300-5,150 sq ft duplex penthouses with four and five bedrooms will have large home theatre halls, a private terrace garden and swimming pools,” Renjith Jacob, director, Dewa Project, said. Dewa Projects is a private limited company with a paid-up capital of Rs 225 crore and a current asset value of over Rs 1,400 crore. Dewa's 'Pier 20'; has equity participation from Infrastructure Leasing and Financial Services (IL&FS).

source: http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=18274&cat_id=1