Far East Organization, one of the largest private property developers in Singapore, is planning to bring its luxury hotel chain namely, Fullerton Hotel, in India through its public-listed arm Sino Land.
The first 150-200 room Fullerton Hotel would come up in Kolkata, at a heritage building on the Ho Chi Min Sarani, as a joint venture with a Kolkata-based non residential Indian, said Chia Boon Kuah, executive director, Far East Organization, after a press conference in Kolkata on Saturday. The company was scouting heritage sites in Mumbai and Delhi also for similar projects, he said.
"We are interested in converting heritage buildings into world class hotels in India. The investments in the project will depend upon the condition of the buildings" Kuah said.
This apart, Far East was also looking for land to build service apartments in Kolkata, Mumbai, Delhi, Chennai and Bangalore.
Far East Organization has roped in Delhi-based Land Solutions to create a land bank for its residential and commercial projects. Land Solution currently has a land bank of 10,000 acre across India, said Akshay Jain, chief executive officer, Land Solutions (India).
Jain informed, Far East Organization, would invest up to $100 million in India for residential and commercial projects in the country.
"We do not have any experience of working in India, so we are going ahead step-by step and looking for the right partners," Kuah said.