KOLKATA: Real estate company Merlin Group is set to come up with its second thematic luxury residential project. The project, set in Bidhannagar Municipal Corporation area bordering New Town, is likely to be completed by 2030 and Merlin will invest around Rs 800 crore for the project.
Merlin has partnered with global lifestyle network FTV for the project. This will be Merlin’s first brandedproject under F Residences. As part of the partnership, FTV will design the interior and exterior of the flats.
The lifestyle network will also offer technical expertise in the project that aims to meet latest global luxury trends.
Merlin is keen to explore future licensing and branding collaborations with other global brands, said group MD Saket Mohta. “The construction is set to commence soon. This project will be spread over about eight acres of land. In the first phase, 11 residential towers will be developed with 880 apartments across 13 floors. We expect the project to be completed in next five years. Five to six additional towers are being planned in the second phase,” said Mohta. Merlin’s first thematic project was Merlin Rise, a sports-centric township. The project is still on at Rajarhat.
“We are planning to develop more thematic real estate projects in and outside the city. We want to take our partnership with FTV beyond this project,” said Mohta.
FTV MD Kashiff Khan said: “This project marks our entry into branded residences in eastern India, and we plan to restrict our Kolkata association exclusively to Merlin. We are also developing a commercial project in Ranchi are in discussion for another project in Guwahati.”
Source Homevior.in
