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Dubai: UAE-based property developer ETA Star plans to launch new projects in Bangalore next year as it grows its presence in the Indian property market.
Executive director Abid Junaid said the company will use a land bank of 300 acres on the outskirts of Bangalore for the planned mixed-use developments.
ETA is also developing commercial and residential property on 70 acres of land in Bangalore city's Binnypet area.
"We are working on the details. We will launch new developments in 2008," Junaid said, adding that a number of land plots are being considered for use.
In the southern Indian state of Tamil Nadu, the company is working on a Dh11-billion project that includes residential buildings and industrial zones.
Junaid told Gulf News said the value of company's UAE projects has risen to Dh15 billion after this week's launch of the Dh2.5-billion La Italia residential community in Dubailand.
La Italia will have low-rise residences comprising 23 buildings.
Market response
"We are gathering market response before launching them for retail sales," Junaid said.
ETA Star has several projects under development in Dubai, including in Dubai Marina, the Palm Jumeirah, Business Bay and Jumeirah Lake Towers.
The company said "every property is as per schedule and construction is progressing at an aggressive pace".
ETA has completed master-planning on the Dh3-billion mixed use project in Muscat.
"Work will start in the first quarters of 2008 and take about three years to finish," Junaid said.
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