South India-based business conglomerate, Choice Group, is in the process of developing a resort condominium concept branded as 'Choice Marina' at a waterfront location in Kochi. The company has undertaken the marina development project spread across a gross area of 1,38,000 sq ft. The project’s construction will commence from July 16, 2009 and is likely to be complete in 16 months.
Speaking with TravelBiz Monitor, Thomas Jose, Director, Choice Group revealed, “Choice Marina will be positioned as a luxury resort/condo for upmarket clientele. It will have exclusive apartments that range from 6000-7000 sq ft each.” Almost 70 per cent of the project has been allotted for private ownership purposes, while 30 per cent of the inventory will be dedicated as a hospitality component. However, the owners will be open to subletting the unit as a serviced apartment; in turn, they will be assured a return on investment. “The figures are yet to be worked out,” informed Jose.
Choice Marina will house 30-35 accommodation units and three F&B concepts, along with banquet and conference facilities. Jose plans to develop an underwater restaurant in this project |