Kochi: Joyalukkas Group is diversifying into real estate sector and is setting up a 22-storeyed 156 apartment project at nearby Vazhakala with an investment of about Rs 300 crore.
The project, 'Gold Tower', is a premium three-, four-bedroom and supersize apartments that has been designed with inspiration drawn from the finest projects in Singapore and Middle East, Group chairman Joy Alukkas told reporters.
While there will be 20 four-bedroom apartments, rest would be comprising 3 bedrooms.
The real estate sector will be looked after Joyalukkas Lifestyle Developers.
Currently, the group operations include jewellery, fashion and silks- Jolly Silks, Luxury Air charter- Joy Jets, Exchange, Malls and Electronics.
The work on the project has commenced since the past eight months and is expected to be completed by 2016 December, he said.
The per square feet price would come to Rs 7,000, Rs 9,000 and Rs 11,000 and a team of internationally reputed architects have given the apartment block a contemporary design, he said.
Alukkas said he wanted to start a project in Dubai, but had to abandon the plans due to the situation there since the past 2-3 years.
The group, which has presence in over 10 countries, including the UK, the UAE, Oman and Qatar, has over 10 million customers and employs over 6,000 people in the UK, UAE, Oman, Qatar.
