Claremont Group reveals first phase of £100m Goa scheme

Claremont Group, the property investment firm run by brother and sister team Manjit Deol and Perm Saini, has revealed plans for the first phase of its £100m leisure resort in Goa, India. First Goa comprises a five star hotel with up to 500 villas and apartments, all offered for sale.  It will be the first resort of its kind in the region. The first phase includes 120 properties and the second includes a mix of accommodation with prices ranging from £37,500 for a studio to £249,950 for a five bed villa. The resort will be built on a 150-acre site beside South Goa’s Arabian Sea and will also include a lagoon, leisure and conference facilities, landscaped tropical gardens and private access to the beach. Claremont, via its Indian legal team, has established a company structure to facilitate foreign investment in the development. Deol, said: “Markets such as Dubai and Spain have now become saturated and expensive, however Goa gives you the chance to get in on the ground floor of an emerging market. “The Indian economy is one of the fastest growing in the world and land and property prices are booming. The prospects for capital growth are therefore fantastic. International architect RyderHKS designed the development. Work on the resort starts in December 2007, with completion scheduled for early 2010. Claremont has also acquired a large chunk of Ansty Court in Birmingham’s Jewellery Quarter. The firm has paid developer WhiteFire £7m for all 14 commercial units, plus 28 of the 67 apartments within the £13.5m development. The company will go on to sell all of the apartments to its private investor clients. The mixed-use scheme is due for completion in early 2008.