Nitesh Estates Copying UB City ?

Bangalore / Bengalooru based Nitesh Estates is understood to have partnered with Citigroup realty and secured funding of $100 Million for it's ambitious 250 room hotel and commercial space for high end retailers. The project is understood to be coming up on Residency Road in Bangalore. Insiders have leaked that the upcoming hotel is to be managed by Ritz Carlton.

Looks like Nitesh Shetty, founder of Nitesh Estate is directly copying the model of building Hotel cum High End commercial retail outlet from none other than a neighbor living 4 Kms away, Vijay Mallya. Mallyas UB city houses a 5 star hotel and a High End Retail outlet in one of the towers.


In Dec-2006, Nitesh Estates raised $55 Million from JP Morgan.

Via[BS]

Tags: Citigroup, Bangalore Real Estate, India Property, Nitesh Estates