Prince Holding, an NRI-backed consortium, announced that their two prestigious life-space projects — Prince Gates 1 near Nandi Hills in Bangalore and Prince Gate II on the banks of Periyar near Cochin International Airport — will launch immediately.

According to promoters, each projects spread over 100 acres and are sustainable and self-sufficient, and thoughtfully set far from congested areas.

"Each project will have five hundred Non-Resident Indian participants. Anything like $ 400 million is the expected outlay for each project. Though Kerala has been chosen as a preferred destination, keeping in view the fact that Keralites constitute a large expatriate chunk, the group is already exploring the possibilities of similar ventures in neighboring states," said C. A. Sebastian, an Abu Dhabi-based financial analyst and a promoter of the venture.

Dr. Narendra Kumar(US), Dr Ajit Kandoran (UK), Dev Kishan (South Africa), Abhilash Pillai (Singapore), D.r Abdul Shukoor(Sharjah), E. S. Suresh (Oman) and Bala Gopal (Dubai) are other promoters of the venture.

According to Sebastian, the promoter's focus is on pooling resources of its individual members of the consortium to create an infrastructure conducive to the development of technology-based firms, facilitating interaction, technology development, new venture creation, commercialization of innovation and building up of quality human resources in a self-sustaining environment.

Both projects will have special business zone, a centre for excellence in advanced technology and innovation, an international financial centre, an education zone, a hospitality zone comprising clubs, spas and service apartments, a health care zone, an NRI facilitation centre, a shared facilities zone consisting of sports academy, retail strip mall, multiplex, food courts, library & a residential zone with villas, row houses and apartments.