Sobha Developers enters Kerala to launch integrated township

Sobha Developers Ltd has announced that the Company will be launching its first integrated township "Sobha City" in Thrissur, Kerala on May 13, 2007. This will be developed in 71 acres of land with a developable area of over 3.50 million SFT. This integrated town ship will have Super Luxury Apartments, Villas, Shopping Mall, Office Complexes, Hotel, Multiplex, and Convention Centre with Multi Speciality Hospital, located on the Thrissur - Guruvayoor highway. This project is expected to be completed over a period of five years.

A man made lake, covering 6.5 acres with a long walkway around the lake is one of the features of the project.

Further as informed earlier, as "Important decision of the Board Meeting" held on January 20, 2007, this project will be developed jointly by the Company and Tree Hill Estates Pvt Ltd (THEPL) with economic benefits in the ratio of 70 : 30 with an investment ratio of 33 : 67 respectively.

The stock was trading at Rs.869.05, up by Rs.5.95 or 0.69%. The stock hit an intraday high of Rs.873.90 and low of Rs.845. The total traded quantity was 31051 compared to 2 week average of 110385.

Source : Equity Bulls

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