Golden Gate Properties Announces Launch of Presidential Tower, Tallest Residential Tower in Bangalore with 50 Storeys and City’s Largest Club House of 60,000 Square Feet

Bangalore, July 23, 2014 – Golden Gate Properties Ltd, South India’s leading property developer, announced the launch of its prestigious new project “Presidential Tower,” in Yeshwantpur. The Presidential Tower, rising 50 storeys and 151 meters high, will be the tallest residential tower in Bangalore (and in fact South India too!).The Presidential tower is located in the hub of Yeshwantpur, in close proximity of the Outer Ring Road as well as the World Trade Centre, Orion mall, Star hotels, World class healthcare, leading schools, colleges and the latest civic convenience-metro rail station. The principal concept architects for the project are Llewellyn Davis of UK.

Replete with a 20,000 square feet expansive skypark on the 50 th level, offering a bouquet of superlative amenities that include an Infinity pool, children’s Fun Pool, Dance Floor, Health Club, Bridge Gym, Meditation park, Terrace Party Deck, Outdoor Decks, Viewing Gallery, not to mention several more at the ground level. These and the60,000+square feet best-in-class fully loaded club house on the campus, ensure life remains at its pulsating best- be it in the sky or on the ground. The Presidential tower will provide the elite of Bangalore with the ultimate premium lifestyle experience. This is Golden Gate’s latest offering in the Premium Luxury segment, launched on the back of the resounding success of its earlier projects.

According to Mr. K Pratap, Promoter of Golden Gate Properties Ltd., “We aspire to set new industry standards in guaranteeing the timely delivery of our project within 36 months from the commencement of construction. This guarantee is assured by way of a bond that is signed by the promoters. In case of delay beyond the guaranteed delivery date and an additional four months grace period, the customer is compensated for the delayed period, at the rate of 10% per annum, for the amount invested. We have very consciously pegged the penalty far higher than projects from other developers, as we are very confident of our ability to deliver as per committed schedule.”

“Bangalore is the third largest hub for high net worth individuals (HNIs) with over 10,000 individual dollar millionaires. As residents of the city become wealthier, the demand for high-end luxury residential apartments grows. The Presidential Tower addresses this demand by providing high-end amenities and luxuries for its residents while placing Golden Gate Properties as a leading real estate developer. With this project, we also hope to inspire other developers to build luxury properties in Yeshwantpur in order to match the locality’s potential as Bangalore’s Manhattan.” Mr. K Pratap further added.

The construction of Presidential Tower will be managed by leading project management firm Colliers International, a leader in global real estate offering comprehensive services to investors, property owners, tenants and developers around the world.

Mr. Saacketh Chawla, National Director, Project Management at Colliers International said, “We are excited to partner with Golden Gate Properties in the construction of Presidential Tower, India’s first certified snag-free residential development. Snag free certifications will be achieved through the implementation of a quality checking process that would be customized for the design and construction technology that Golden Gate is using. Colliers International will be overseeing and monitoring the implementation of this process aimed at delivering a snag free residence to the customers. Presidential Towers will also come fitted with India’s first fire escape chutes to provide a fast and safe method for evacuation in case of an emergency, at par with the best international standards.”

Golden Gate’s assurances come on the strength of the key milestones it has already crossed and is set to cross in near future. These include handing over of 5 million square feet of residential living spaces, with another 5 million square feet under construction and a further 5 million square feet of property getting ready for launch. Golden Gate Properties is dedicated towards becoming one of Bangalore’s leading luxury property developers and be synonymous with high end luxurious real estate products. BWI