Published in The Hitavada on Monday June 15, 2009

FIRE Arcor, today announced the launch of the largest Foreign Direct Investment (FDI) promoted Integrated Township in Nagpur with a project outlay of over US$200mn. Having more than 6 million sq ft of built up area, the township christened as ‘The Empyrean’ is the largest FDI promoted project in Central India. The project will be developed by FIRE Arcor Infrastructure Pvt Ltd, a joint venture company formed between FIRE Capital Fund, a Private Equity Fund focused on Indian Real Estate, and The Arcor Group of Nagpur.

Fire Arcor to get FDI from FIRE Capital Fund for Nagpur project

The Empyrean, has been conceptualized and master planned by the world’s fourth largest architectural firm, Aedas, based out of Hong Kong The Township has been conceptualized as the one with high construction quality and exceptional architectural designs. The Empyrean will offers 5000 residential units ranging from the most exquisite Villas at the top end to elegant Row houses and Affordable apartments.

The project was inaugurated today by Justice K.N.Singh, Retired Chief Justice of the Supreme Court of India. Also present at the function, as the Guest of Honour, were Mr.N.Rama Rao, Ex-Principal Secretary, Housing, Maharashtra and Mr.William A Eagen III, MD, MG Advisors Inc., New York and board member of FIRE Capital Fund.

Speaking at the launch Mr Om Chaudhry, CEO, FIRE Capital Fund said, “The Empyrean, being the largest Integrated Township Project with Foreign Direct Investment (FDI) in Central India will set enviable benchmarks in the realty sector of the country. This project is based on the most modern urban design principles.”

“The Empyrean is also expected to provide more than 2500 jobs (700-800 direct employment, 1700-1800 indirect employment), and by doing that will contribute to moving the wheels of the economy in the vidarbha region” Mr Chaudhry added.

Located at Kothewada on the Outer Ring Road, just adjoining the MIHAN project, the project is on the growth Axis of Nagpur. Offering an extensive 70 acres of open/green space, The Empyrean is themed on the five human senses and how the experience at this Township leads to perfect harmony of these five senses and help the resident lead a lifestyle which would otherwise be possible only in a Paradise.

Mr. William A. Eagan said that “The Empyrean, Nagpur, matches favorably with the best Real Estate Developments even in the Western World. The concepts used by the Architects are world class and when implemented will result in true international style living. The lifestyle of opulence in Villas and exclusivity of the other residential options in the township are sure to boost the owner’s pride as a class apart segment.”

Rejuvenating the body and soul of the people and offering a new kind living experience, this township will also have special Riverfront sports and recreation zones of more than 5 acres. These unique and magnificent facilities are meant to bring a sense of revitalization and a heavenly pleasure for mind, body and soul aptly described in The Empyrean’s logo as “Paradise Regained”.

Mr. Siddharth Saraf, MD of FIRE Arcor, said that “The Empyrean is a development designed for contemporary living in Nagpur. The residential options are classified into distinct styles, deluxe and luxury celebrating architectural grandeur. The project will offers high quality of construction at an affordable price. This project of will surely redefine the living experience for the people of Nagpur”.

“As the project is coming up on the Outer Ring Road, off the Wardha Road, adjoining the MIHAN and in close vicinity of the VCA stadium, accessibility will be very easy. Moreover with many units in MIHAN getting operational around the same time as the delivery of our phase I, which is expected to be 24 months from now, we are sure of the township being fully occupied, thus providing very good appreciation to our buyers”, Mr.Saraf added.

Taking away the hassles of shopping, The Empyrean will have retail options to facilitate the shopping needs of the residents. Adding value to the project would be commercial /office towers, banquet halls, a large internal lifestyle based clubhouse, hospital, a hotel. A petrol pump would also be coming up in the vicinity of The Empyrean.

Apart from the amenities mentioned earlier, one of the most important advantage for The Empyrean is the presence of schools, hospitals etc at a doorstep.

Built on an earthquake resistant structure, The Empyrean will offer all the civic amenities like water, sewage, storm water drain, roads, electricity, telephony, well maintained parks and gardens with in the township to redefine the comfort style of living for the people of Nagpur.

The integrated township is expected to be completed in phases over the next six years, with Phase I getting delivered in about 24 – 30 months time from now.