Leela institution signs p.c. With Qatar company To build lodge near Taj

Investment

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Doha: The Leela institution and Qatar’s Al Faisal group on Sunday signed an settlement to build a 5-celebrity resort close to the Taj Mahal in Agra with an FDI (overseas direct funding) of approximately Rs 500 crore, coinciding with prime Minister Narendra Modi’s visit to the Gulf state.

The 250-room motel, to be built in 30 months, will entail an FDI of approximately Rs 500 crore, Leela institution chairman Vivek Nair told PTI after signing the % with chairman of Al Faisal organization Sheikh Faisal bin Qassim Al Thani.

The agreement was signed after PM Modi’s interaction with top business leaders of Qatar here in which Sheikh Faisal became additionally gift.

The resort could be built beneath the brand name ‘Aiana’ and will be the 6th such hotel in India, stated Amruda Nair, joint coping with director and CEO of Aiana motels and inns.

The resort will be built on a place of 7 acres, just one km from Taj Mahal, Ms Amruda said.

“we can be growing a two-resort complex with a total of 250 rooms. there will a hundred-room Leela Palace and a hundred and fifty room-Aiana on pinnacle of a shared podium…,” she stated.

She cited that the brand Aiana became released in India approximately a 12 months in the past and this may be the 8th such lodge across India, Saudi Arabia and Qatar.

The hotel may be named as ‘Aiana Agra’, and Leela and Aiana will be its operators, Ms Amruda stated.

Vivek Nair said the task will entail one hundred in keeping with cent FDI.

Ms Amruda said Sheikh Faisal is eager to help the emblem with additional properties in other places as well – Europe and Maldives. “So we keep to study opportunities.”

Mr Nair stated Leela additionally has a plan, on its very own, to build a 60-room inn in the prime Minister’s Lok Sabha constituency Varanasi in 24 months.

“we have now gone into asset-like approach. builders come to us and say ‘please expand a resort like Leela Palace or Leela Goa’. So, apart from Agra, we are putting up a inn in Jaipur and a 1,000-acre assets in Chandigarh — a 27-hole golf route and villas and a a hundred and fifty-room lodge,” stated Mr Nair. “the world over, we are just about to execute an settlement in Dubai with the royal own family there for a lodge dealing with the Burj Khalifa. it will likely be a 250-room lodge. any other motel in enterprise bay,” he said.

“In January, we can start working a hotel in Maldives. Island belongings,” Nair stated, including: “So we’re growing unexpectedly.”

Written by Srijita