ETA Star launches AED 1.2 billion Taj Exotica Resort & Spa and The Grandeur Residences

The projects are being launched in partnership with the world-renowned Taj Group of Hotels. The ground breaking ceremony, marking the commencement of construction for the project, was held today at the Palm Jumeirah Crescent and was attended by dignitaries who included Ratan Tata, Chairman, Tata Group and Sultan Ahmed bin Sulayem, Executive Chairman, Nakheel.

The Taj Exotica Resort & Spa, Palm Jumeirah, Dubai is a plush five-star hotel complete with a host of world-class facilities, whereas The Grandeur Residences is a luxury residential complex designed to provide residents a lifestyle reminiscent of royalty. The project is modeled on the archetypal palaces of Rajasthan.

The Grandeur Residences comprises of 200 freehold fully furnished one bedroom, two bedroom and three bedroom apartments, including ten beach front villas. The entire facility will be serviced by Taj Exotica Resort & Spa, Palm Jumeirah, Dubai. The one bedroom apartments at The Grandeur Residences cover a floor space of 1121 to 1236 square feet while the two bedroom apartments range from 1704 to 2148 square feet. All three bedroom apartments range from 2658 to 2676 square feet.

ETA Star has put together a variety of options for The Grandeur Residences, including outright sale with furnishing, outright sale where the property is leased back to ETA Star for a minimum period of 5 years, that would make the project interesting not only to own but also as an investment option.

Every apartment in the condominium of 'The Grandeur Residences' offer stunning views of the sea from the trunk of The Palm, the Burj Al Arab and the skyline of Dubai Marina. The property comes equipped with an array of amenities such as spa, swimming pools, health club, restaurants, helipad, tennis court and 24-hour security and a concierge. Residents of 'The Grandeur Residences' will have full access to the 5 star facilities of the adjacent Taj Exotica Resort & Spa, Palm Jumeirah. In addition, all units at The Grandeur Residences will be serviced by Taj Hotels Resorts and Palaces who are, the internationally renowned group with over of a century of experience in hospitality.

The highlight of the 232-room Taj Exotica Resort & Spa, Palm Jumeirah, Dubai is the internationally renowned 'Jiva Spa' which will be the largest Spa in the Middle East. The spa comprises single and double treatment suites, beauty treatment rooms, meditation and yoga pavilions, relaxation pools and fully equipped gyms. Other facilities at the Taj Exotica Resort & Spa, Palm Jumeirah, Dubai include swimming pools, tennis courts and private beach.

"Having made a name for itself in developing prestigious commercial and residential properties, ETA Star was looking for the right project to mark its foray into the hospitality sector," said Abid A Junaid, Executive Director, ETA Star.

"Few places in the world offer a more unique setting than the Palm. Also, in the Taj Group, we have as a partner an internationally renowned hotel group with more than 100 years of industry experience, who manages some of the best hotels and resorts in the world. Taj Exotica Resort & Spa, and The Grandeur Residences will be the defining project on the Palm Jumeirah Crescent. Given the wide investor response The Grandeur Residences has already drawn, we are confident we can sell out the entire apartment and villa blocks very soon."

Raymond N Bickson, Chief Executive Officer & Managing Director, The Indian Hotels Company Limited, said, "The launch of this prestigious project is in keeping with the Group's strategy to expand into the key gateway cities of the world. The Luxury Residences at Taj Exotica Resort & Spa, Palm Jumeirah, Dubai will be a truly world-class development. The entire project will resemble a Rajasthani palace in its entire splendor, and is designed to provide a regal lifestyle to residents. By drawing on the combined expertise of Taj Hotels Resorts and Palaces and ETA Star, we are sure we can turn this project The Grandeur Residences into the most desirable address on The Palm, Jumeirah."

ETA Star is one of the leading property development companies in the GCC. ETA Star's portfolio includes pioneering projects such as 23 Marina, Al Manara, Liberty House, Gold Crest Executive, Pearl Residence, The Belvedere and Gold Crest Views-2. The company had recently forayed into the Indian and Sri Lankan property market with the launch of "The Gardens", an environment-certified residential complex in Bangalore and the Golden Enclave Residences in Colombo, Sri Lanka.

The Palm Jumeirah is a man-made island in Dubai, strategically located on the Arabian Gulf. Termed as the eighth wonder of the world, the island is shaped like the date palm, and is visible even from space.