New Delhi, India, September 27, 2009 --(PR.com
)-- Ireo, the first and the largest Foreign Direct Investment (FDI) from a Private Equity fund dedicated to the Indian real estate sector and a fully integrated real estate development company, today announced the commencement of its first signature property – The Grand Arch in the Ireo City, Gurgaon. Ireo city is the first mega project of the company in North India, and the planned capital outlay for the development is Rs 10000 crores (Ten Thousand crores).
Spread over sprawling 500 acres, Ireo City, the integrated township will offer a unique mix of features such as an elevated walk way connecting the entire township, art centers, theatres etc. Ireo City development will also include schools, a hospital, parks, luxury hotels, shopping malls, service apartments and office complexes. Situated at the junction of Golf Course road with Sector 58, Gurgaon, ‘Ireo City’ is extremely well located and complements natural surrounding of the Aravali Hills. Ireo City will offer its residents immediate access to NH-8, Delhi Metro and fast exit routes to Delhi & NCR. The Grand Arch launched today will be a part of this well planned township.
The Grand Arch spread over 20 acres, is designed to be the Gurgaon’s new landmark residential complex. The Grand Arch redefines the ‘Next Level of living’ through the Multiplier Package – a unique combination of convenience, comfort and safety. The Grand Arch will host several unique features that are yet to be experienced by the Indian consumers, most important of these being the stunning architecture with apartments open on all 4 sides for all round natural sunlight and thorough ventilation, 10 foot high ceiling improving room aesthetics, two bedroom duplex apartment with double height ceiling over the lounge and dining area, double glazed windows and apartments equipped with VRV air conditioning offering the best of temperature controlled and energy efficiency.
On the occasion of the launch of Ireo City, Lalit Goyal, Vice Chairman & Managing Director, Ireo said, “The Grand Arch marks the launch of the Ireo City - the beginning of a new era in the Indian real estate sector with a planned launch of 10 million square feet area of its 3000 acres owned land in next twelve months across NCR, Haryana, Punjab, Tamil Nadu and Maharashtra. The unique facility of Ireo City – ‘Skywalk Network’ will integrate all developments within the township by providing safe and easy connectivity to the pedestrians.”
Speaking about The Grand Arch, Varun Khanna, Director, Ireo, said “The Grand Arch promises to achieve the next level of living. The large open spaces, abundant greenery and wide choice of apartments will redefine taste of its residents. The apartments at ‘The Grand Arch’ will not only excel in design and comfort features, but will be energy efficient and environment friendly homes in India. The VRV air conditioning will enhance the energy efficiency and waste water treatment plant will use membrane technology for water purification.”
The Grand Arch will have an iconic 22 stories The Arch – East & West wing, four towers up to 29 stories and four mid rise towers which will have duplex apartments. The Grand Arch will have a wide range of apartments, including duplex and pent houses offering stunning views of the Aravali Hills. The size of the apartments will be between 1375 sq.ft to 9897 sq.ft.
The Grand Arch will have total 842 apartments and penthouses.
The total saleable area of The Grand Arch is 1.68 million sq fts.
The project is likely to be completed by end of 2012.
Multiplying features of The Grand Arch
Ireo, is the first and the largest Private Equity Fund dedicated to the Indian real estate sector. The company has a pan India footprint of projects in prime locations across NCR, Haryana, Punjab, Tamil Nadu and Maharashtra under various stages of development and implementation.
Ireo has been present in India since 2004 and has evolved as a fully integrated real estate organization that is both the financer and developer of its projects.
Ireo’s team consists of internationally experienced and accomplished Indian and expatriate professionals from diverse backgrounds to lead initiatives and to deliver best in class products and services to our customers.
Ireo’s investor base consists of blue chips and globally renowned financial institutions.
Please visit their website: www.ireoworld.com for more information on Ireo
For further information please contact:
Corporate Voice/Weber Shandwick