Eden Realty Group announced on Tuesday an investment of Rs 5,000 crore in residential, commercial, and hospitality projects on both banks of the Hooghly River by the year 2030. The developments will feature a premium riverside residential project located in Shalimar, Howrah, along with five luxury hotels comprising a total of 600 rooms situated along the riverside in Kolkata, Howrah, and South 24 Parganas, as stated by Eden Realty’s Managing Director, Arya Sumant.
“This marks our inaugural venture into the hospitality sector, where we intend to construct five luxury properties on land leased from the SMPK (Kolkata port). We have engaged in discussions with various Indian and international hospitality leaders to oversee the management of these properties, although we have not yet finalized a partner,” he further explained.
The first hotel is set to be established on a 2.3-acre site. “It will feature 80 keys and require an investment of approximately Rs 150 crore. Additionally, we aim to develop a 300-key hotel with an investment of around Rs 450 crore on a 20-acre plot leased from port authorities at Garden Reach,” stated Kumar Satyaki, the company’s Joint Managing Director.
The company also intends to establish hotels in Raichak and Budge Budge, as well as a hotel-cum-commercial project on Strand Road. The residential project in Shalimar is expected to comprise over 1,000 units distributed across five towers, with an investment of approximately Rs 2,000 crore, according to Sumant.
