Prime Textiles enters real estate segment

Riding on the current boom in the realty business in the region, Tirupur-based Prime Textiles Ltd has diversified into real estate development. The company is setting up Prime Enclave, a first of its kind township project in Tirupur.

According to a company release, the project involves development of 8,50,000 sq ft of construction comprising prime residential luxury apartments, club house, multiplex theatres, commercial offices and a business hotel.

P D Patodia, vice-chairman and managing director, Prime Textiles, said the diversification into realty was triggered by the emergence of Tirupur as a major industrial destination and the growing demand for modern apartments and commercial facilities in the city.

The residential part of the project, Prime Residential involves 5,81,000 sq ft of built-up area comprising 2-3 bedroom apartments along with the recreation facilities, like pool table, table tennis, tennis courts, badminton courts, swimming pool, club house, gymnasium, jogging track, and children's play area, all in one complex. The first phase of Prime's real estate project involves construction of 212 apartments scheduled for completion in December 2006. Of this, 120 apartments have already been booked, the release added.