BSEL Infrastructure Realty bagged an order worth Rs.1,600 crore for construction of a residential project in UAE.

The total sellable value of the project will be Rs.2,100 crore, thus making a bottomline of around Rs.500 crore. The funds required for the project will be generated from internal resources without raising the capital base.

The company will be developing 45 lakh sq.ft. four towers of 50 storey each in Emirate city. Four towers will consist of ground floor, sixth level car parking, podium slab and 40 floors of serviced apartments and residential apartments. The 49th floor will consist of health club and the 50th floor will have a helipad arrangement.

The company has already procured 100 percent freehold land from R. Holdings, a government organization, similar to CIDCO and MIDC in Mumbai at a cost of Rs.135 crores. The project is expected to be completed by 2010.