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News Article

07 October 2007

ETA Star signs loan agreement with ADCB for Taj Exotica Resort & Spa

Dubai, September 2007: ETA Star, a leading property developer in the UAE, announced that it has signed a loan agreement with the Abu Dhabi Commercial Bank (ADCB) for the construction of its Taj Exotica Resort & Spa. Under the agreement, ADCB will provide ETA Star AED275 million for the construction of the magnificent resort complex set on the exquisite crescent of the Palm Jumeirah.
ETA Star is constructing the Taj Exotica Resort & Spa in partnership with the world-renowned Taj Group of Hotels. The Taj Exotica Resort & Spa is a plush five-star hotel complete with a host of world-class facilities, designed to provide residents a lifestyle reminiscent of royalty. The project is modeled on the archetypal palaces of Rajasthan.

Commenting on the Taj Exotica Project, Mr. Abid Junaid, Executive Director, ETA Star said: “Our aim has always been to provide the customer the best and to keep to our promise of delivering a property that is state-of-art with no compromises. The Taj Exotica Resort & Spa once ready will be the abode for modern-day royalty. At our end, we are ensuring that the project live upto their promise and will offer its occupants all the perks of a regal hospitality.”

Mr. Shafqat Ali Rana, Regional Head, Business Banking Group, ADCB Corporate Office, said" We are pleased to be part of this prestigious project development and we look forward to serving the real estate community by providing unique and innovative financial services."

The highlight of the 262-room Taj Exotica Resort & Spa is the internationally renowned 'Jiva Spa' which will be the largest spa in the Middle East. The spa comprises single and double treatment suites, beauty treatment rooms, meditation and yoga pavilions, relaxation pools and fully equipped gyms. Other facilities at the Taj Exotica Resort & Spa, Palm Jumeirah, Dubai include swimming pools, tennis courts and private beach.

A rare promise to keep in today’s swarming real estate market; every ETA Star property is as per schedule and construction is progressing at an aggressive pace. Forever in pursuit of better customer service, ETA Star has introduced revolutionary and innovative investment opportunities for its customers with unique partnerships with leading financial institutions across the world.

ETA Star is one of the leading property development companies in the GCC and is the first developer in the region to be awarded the ISO certification. The company has successfully launched projects close to 10 million sq ft in various master development communities like Dubai Marina, Jumeirah Lake Towers, Dubai International Financial Centre, Business Bay and International Media Production Zone. ETA Star’s portfolio includes pioneering projects such as 23 Marina, Al Manara, Liberty House, Gold Crest Executive, The Palm Jumeriah Residence and Spa and Grandeur Residences, The Summit, Pearl Residence, The Belvedere and Gold Crest Views-2.

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