Rakindo Developers Pvt Ltd setting up an integrated township project at Coimbatore with an estimated investment of six thousand crore rupees. Rakindo Developers is a joint venture company formed by RAKEEN and Trimex group. RAKEEN is a global business company where as Trimex group is chennai based mineral conglomerate.
The project, Kovai Hills, will be developed over thousand acres with eighteen hole golf course as the centrepiece. The project involves setting up of luxurious golf course villas with scenic mountains and lush greenery in the background. Rakindo will offer these exclusive villas on ‘Own by Invitation Only’, a first for such project in Tamil Nadu. The project is located southwest on the Coimbatore-Palakkad route and will have more than twenty million square feet of constructed space.
According to Mr. Prasad Konery, managing director, Rakindo Developers, “our vision is to create theme-based townships which will offer holistic lifestyle and world class amenities. The Kovai township project will be a signature project and will provide an ideal living experience.”
Mr. Prasad said that Scheduled to be launched in the third quarter of this year, the self-sustaining township project will also house an IT SEZ, specialty hospital, schools, star hotel, clubhouse and wellness centre, retail, commercial and eesidential developments among host of things. He further said,“Rakindo is committed to investing Rs 20,000 crore in India over the next five years and will on a conservative estimate build about fifty million square feet. The company will in the course of next one year announce a slew of new projects in Kerala, Tamil Nadu and Karnataka”.
With a land bank size of over 3,000 acres, Rakindo is fast evolving as one of the biggest players in the Indian realty industry. The company plans to establish a pan-India presence over the next five years with a slew of projects. The company also plans to diversify into retail, hospitality, education and healthcare sectors through strategic alliances and partnerships.