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| Exchange Disseminated Time | | Country Club India Ltd has informed BSE that the Company has completed its largest acquisition till date by taking over an existing boutique luxury property in Emirate of Dubai for 165 million AED (Rs 175 Crs). Because of the strategic location of Dubai and its status as an international financial hub CCIL., has made a strategic decision to make Dubai its international headquarters. The property is located centrally 15 minutes from the airport and houses over a 100 rooms. It also has six exotic outlets which represents the confluence of diversity which echos CCILs deep rooted commitment towards global cultural vibrations. It includes Player's Bar — an European Sports bar which has the state of the art technology to transport you into the stadium and is the meeting point for die-hard sports fans, Aqua Bar - A classy lounge, Quershi - An authentic Indian restaurant. This acquisition is in tune with the Company's mission of catering to the global Indian which is represented by the large diaspora of the Indian population in the UAE. Post this acquisition CCIL, will have employees from 16 nationalities which showcases Dubai as the melting pot of the world where the best of the East meets the best of the West. The property is an already running profit making entity which also has additional amenities like a Health Club, beauty palour, swimming pool and a business center and will be CCILs gateway to the Middle East and Europe. CCIL also plans to launch its Middle Eastern medical tourism foray - Country spa which offers naturopathy and ayurvedic services by utilizing this property as a strong platform for global expansion. This gives an opportunity for over 155,000 Country Club domestic members to travel to Dubai apart from opening the doors for many Middle Eastern clients to join the CCIL family. Apart from its aggressive expansion plan in India CCIL is also strategically investing in other locations with a large asian diaspora. |
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