Condor forays into Kerala realty space

UAE-based Condor Building Contracting LLC has forayed into Kerala with a bunch of mega building projects at a cost of Rs 200 crore.

The building contracting major will start work on five projects in Thiruvananthapuram this year.

Condor group managing director Sivaprasad told mediapersons here that the company would construct a 2,50,000-sqft shopping mall, which would also house a four-screen multiplex and an 80-room hotel, apart from shopping arenas, at Pattom in the city.

"The work on the ultra-modern mall would commence in the third quarter of the current year. We plan to invest Rs 100 crore in this mall alone," he said.

He said the company was in talks with a textile major to lease out space in the mall. Meanwhile, Condor is also in parleys with multiplex majors like Satyam, Shringar and Adlabs to run the multiplex.

"A final decision on this would be taken only after the parking space is finalised. As of now, we plan to have space for 250 cars in the parking lot. The shopping mall would be ready by the end of year 2007," he said.

The company's other projects would be residential complexes. Sivaprasad said Condor would construct four complexes in different parts of the city.

Work on the first project, christened Marigold, has already started. This residential complex, which would come up at Vazhuthcaud, is expected to be completed by December 2007.

Construction of the other three "� Daffodils, Cassia, and Carnations "�would begin in Kuravankonam, near Pattom during the third quarter of the current year.

While Daffodils would be ready by August 2008, work on Cassia would be completed in December 2008. Carnations would be ready in 2009, Sivaprasad said. The four projects together would cost around Rs 100 crore.

Condor, which has a major presence all over the Middle East, is into construction of telecommunication buildings, super specialty hospitals, multi-storey buildings, sports arenas, malls, leisure parks and the like in the Gulf region.

With the group's foray into the Kerala real estate market, Sivaprasad hopes to keep pace with the growth and current spurt in the realty scene here.

The group already has an export-oriented unit at Tuticorin in Tamil Nadu, which manufactures scaffolding, pressed fittings and related accessories.