Download

Elita HorizonElita Horizon is the second residential project developed byKPD, after Elita Promenade. Acquired in July 2005, the 7.2-hasite is located off Kanakapura Road in south Bangalore andapproximately 7 km from Elita Promenade. Elita Horizon willcomprise 1,060 units of 2- and 3-bedroom apartments withunit sizes ranging from 1,300 sf to 1,750 sf.The development is strategically located near the BMICPeripheral Ring Road, which is part of the Bangalore MysoreInfrastructure Corridor (BMIC) project. Once the BMICPeripheral Ring Road becomes fully operational, it willprovide the much awaited connectivity from Elita Horizonto the major IT growth corridors of Bangalore such asBannerghatta Road, Hosur Road and Sarjapur Road.It is also conveniently located close to various internationalschools including Jain International School and DeccanInternational School, and a mere three km away from Metro,a Germany-based hypermarket. Design development for theproject is almost completed and sales launch is expected inthe second quarter of 2007.KolkataResidential development in KolkataKeppel Land, through a 74:26 joint venture with MagusEstates and Hotels, is developing a 1,376-unit mid-risecondominium in Kolkata, the economic centre of WestBengal and a major IT hub. The 10-ha site islocated within the Rajarhat Township, a new 7,600-acreintegrated township with a target population of about1.5 million people. The Rajarhat Township is 15 km east ofthe Kolkata city centre and caters to the city’s expansion tothe East. It is a 30-minute drive from the city centre and a20-minute drive from the Dum Dum International Airport, theonly international airport in eastern India. It is also in closeproximity to the upcoming Rajarhat Expressway, which linksthe Rajarhat Township to other parts of Kolkata.The development stands to benefit from the comprehensiveplanning of the Rajarhat Township, which will have a mix ofresidential, retail, entertainment, commercial, IT and lightindustry components. It is in proximity to complementarysocial and civic amenities including the upcoming IT Parks byrenowned international and local developers; India’s largestconvention centre; City Centre II, a major shopping centrein Kolkata city; JW Marriott Hotel; Tata Medical Centre andDelhi Public School.To be launched for sale in the second quarter of 2007, thedevelopment will comprise 18-storey to 30-storey towerblocks with a host of recreational amenities such as aswimming pool, clubhouse, gymnasium and children’splayground within landscaped grounds. Upon completion,it will be the tallest residential development within theRajarhat New Town.Market reviewEconomyStellar economic growth set to continueThe government of India has projected real Gross DomesticProduct (GDP) growth of 9.2% for the fiscal year endingMarch 2007, slightly higher than the 9% growth for theprevious fiscal year. All sectors are expected to recordpositive growth momentum, driven mainly by higherinvestments, consumer spending and exports. This signalsthat economic measures such as the removal of importtariffs and quotas, the relaxation of restriction on foreigninvestments and the reduction in bureaucracy haveimproved India’s competitiveness and injected dynamisminto the economy.However, continued strong economic growth has fuelledinflationary pressures. Wholesale price index-basedinflation rate rose to a two-year high of 6.7% in February2007, compared with 4% a year ago. In attempting toease inflation, the government has cut fuel prices whilethe central bank has raised interest rates and the cashreserve ratio for banks to curb credit demand.Operations and market reviewIndiaKeppel Land LimitedReport to Shareholders 2006133