Kuwait-based NRI Company to invest $500 million in waterfront project, Kochi

Dubai, May 01, 2008
Abrar Alvi

NRI Dewa Projects Pvt. Ltd. (DPPL) is a company promoted by a group of NRI professionals based in Kuwait, announced a new project called "Dewa Royale" by investing $500 million waterfront project in Kochi, Kerala, India

The world's finest in living spaces. At Marine Drive, Kochi.

The chief promoter of the DPPL told media that the Dewa Royale project:

• Targeted at NRIs, PIOs and Indian top businessmen
• The luxury condominiums's price will start at minimum $1 million and above
• A premium apartment project coming up on a 6-acre waterfront property at Marine Drive, Kochi. It include an exclusive shopping mall and a world-class hotel – which the company plans to execute on its 18-acre property at Marine Drive.

The company envisages building a world-class shopping mall on its prime 1.85-acre property in Trivandrum, in an upmarket residential area of the city. Plans are also afoot to construct a 300-bed super-specialty hospital in the city. CPG Singapore is the consultant on these projects.

Dewa Projects is drawing up plans to construct a deluxe beach resort at Havelock Island, which is about two hours by boat from Port Blair. The land is taken on a 60 year lease from the Director (Information Publicity & Tourism), Andaman and Nicobar Islands. The resort will come up on a total area of 2.5 hectares and aims to provide world-class facilities for tourists from across the globe.

Dewa Projects Pvt. Ltd. (DPPL) is a company promoted by a group of NRI professionals based in Kuwait, with decades of experience in executing various prestigious construction projects in the GCC countries.

Dewa Projects and its allied companies together have substantial amount of real estate holding in the CBD of some of the major cities in India including Bangalore, Chennai & Trivandrum and also in Andaman & Nicobar Islands.

The company’s foray into the real estate development scene in India will take the form of a grand, multi-phase development at Marine Drive in Kochi which includes a premium apartment project, an exclusive shopping mall and a world-class hotel spread across 18 acres.

Dewa Projects Pvt. Ltd. (DPPL) has associate companies including :

• AGN, Kuwait - Al Ghannam & Nair General Trading & Contracting Company (AGN) – in the year 1991. A U. S. Defence approved Civil, Mechanical & Electrical contractor, AGN has executed, over the past decade, more than hundred different projects for the US combat forces in Kuwait & Iraq.
• AGN’s FMCG division represents billion-dollar multinationals such as Vandermortele of Belgium for soya and related products. The company takes care of import, storage and distribution in GCC countries and has been instrumental in popularizing health & diet food in Kuwait & UAE.
• Dewa Europe (Devina) is a young, dynamic company specializing in the development, production and marketing of a variety of healthfoods.

Souces: Dewa Royale project