ABI Group set to launch Rs 150 cr projects

Chennai, Sep 29: With a land bank of nearly 150 acre, real estate major ABI Construction Group would be launching four projects costing about Rs 150 crore tomorrow.

Talking to reporters here last night, ABI Group CEO S Elango said the projects include 26 individual homes on a 1.44 acre area at Singaperumalkoil near the Mahindra World City, 500 plots each in two phases at Wallajahbad on 100 acre and a beach resort with 500 plots on about 40 acre on the ECR.

The projects at these suburban localities were targeted at the vast manpower skills to be employed by various companies at the SEZ in Mahindra World City and the IT Parks.

''Now, literally there is no space in the city and the government itself is allotting thousands of acre of lands to SEZs and IT Parks to foreign companies for investment in the state,'' he said.

''Keeping this in mind, we have acquired lands in the areas in and around the SEZs and IT Parks to suit the needs of the employees working there,'' he said.

UNI