Ezzy Group, an infrastructure and property management company, announces that it is going to invest around Rs 800 crore on housing sector developed in Bengaluru over the next four years.
The idea has emerged after analysing the overall growth of Bengaluru in the last five years with the accelerated start-up culture enhancement in heavy industries and manufacturing. It results in creating HNI/UHNIs and their desire to live the luxury lifestyle.
The company has invested a total of Rs 200 crore on the initial stage to construct 1 million sq. ft. of luxury houses across three of its projects Andalusia, Gallery Central and EzzyTower which are due for the launch in this year. The pipeline of their upcoming projects in Bengaluru will be disclosed in the next 12 months, confirmed by Hisham Tamiz, the Managing Director of Ezzy Group.
Ezzy Group has already launched their first residential project The Avenue in Whitefield which will be of 1.5 lakh sq. ft. with a total fund of Rs 100 crore. The scheduled delivery time to complete this project is May 2019 with the housing cost ranging from Rs 2.2 crore to Rs 2.9 crore.
“The group will further invest Rs 600 crore towards development of 3 million square feet of luxury housing over the next four years until 2020,” says Tamiz.
Source: ET Realty