– Company defies industry slowdown to commence construction of Colonnade – the future commercial destination of Gurgaon –
New Delhi, December 20, 2016: India’s leading real estate developer Emaar India has awarded a construction and development contract worth Rs 100 crore to property construction firm Capacit’e Infraprojects Limited (CIL) for its upcoming mixed-use commercial project “Colonnade” located in the heart of Gurgaon on the Southern Peripheral Road (SPR).
Colonnade is a commercial development offering a great mix of Retail spaces, Restaurants and Serviced Apartments. The entire project, strategically located in the emerging business hub of the Golf Course Extension road, is being planned to be uniquely refreshing with a contemporary design vocabulary. The design of the project has been done by LA based architects R204. The scope of work for the contract includes construction and development of the entire project, which offers 1.33 lakh sq ft (approx) of retail spaces across four levels, designed with large frontages, abundant natural lights and spacious corridors.
On this development, Ashish Jerath, Head of Sales, Emaar India said, “Emaar India is swiftly moving forward with the sole aim to fast track and deliver all our projects with necessary deployment of resources. We are happy to announce the start of work on Colonnade, and are confident that the final product will not just be state-of-the-art, but also a landmark in the already impressive Gurgaon skyline. The Colonnade will enjoy enhanced visibility and connectivity in the new upcoming premium residential hot-spot of SPR, which has all the social infrastructure in place and is seeing increased occupancies with first deliveries starting on the Golf Course Extension Road.”
Once complete, the Colonnade project will offer an eclectic blend of high street retail options and specialty restaurants with emphasis on open-air dining that will make every visit a time truly well spent.
Mumbai-based Capacit’e Infraprojects undertakes construction of residential, commercial and institutional buildings in Mumbai Metropolitan Region, National Capital Region, Bengaluru and other major cities spread across India.
In the stressed economic scenario the country is going through along with the state of the real estate industry, the award by Emaar India for the Colonnade is a major booster, and is in line with its renewed strategy to fast track all ongoing projects like Emerald Estate, Emerald Floor, Emerald Floor Premier, Palm Garden, Palm Terraces Select, Gurgaon Greens, Imperial Gardens in Gurgaon region besides The Avenues and The Grace in Chennai region.
At present almost 8000 labourers are working at various sites of the developer, as against 500 in April 2016. The company aims to increase this workforce to five figures in the near future at various projects including Palm Hills, Palm Garden and Palm Drive in the Gurgaon region. Emaar India has even started sharing project completion schedules with detailed timeline for achievement of specific milestones for all projects with its customers, and the same information is also available on its website.