Yes Bank is the lender for the development in Kolkata, India. The INR6,600m (£82m) hotel and serviced apartment complex is being developed by Fabworth Promoters Private and will be managed by J W Marriott Group.
The development is located on a 23,000m2 plot of land on the Eastern Metropolitan Bypass, which connects the north and south of Kolkata. The design includes more than 936,000m2 of floor space and includes one tower comprising 44 serviced apartments spread over 30 levels and another 27-floor hotel tower, which contains 298 rooms.
Mott MacDonald is providing the lender with technical advice on the construction schedule, project cost, vendor contracts and statutory compliances up to project completion. The consultancy will regularly monitor construction work to inform the lender on time and cost over-run risks in compliance with environmental, safety and quality norms.
Mott MacDonald’s project director Vivekanand Kamath said: “We have worked with Yes Bank on previous projects before and we’re delighted to have been selected once again. Kolkata is a fast growing city with an increasing demand for accommodation from business people or holidaymakers.”
The project is required to conform to LEED gold certification and is due for commercial operation at the end of 2014.