Regaliaa Realty Ltd has informed that the company has entered into M.O.U and a Leave Agreement with Hyderabad-based Lumbini Constructions, for setting up a Serviced Apartment complex in Whitefield, Bangalore.

The Lease Agreement is for a period of 15 years and there will be 90 Serviced Apartments along with other facilities like a Restaurant, Fitness Centre, SPA & Business Centre spread over a total built up area of 86,000 square feet.

There will be both King Suite and Twin bedroom Apartments in this Complex and the Company will operate it under their registered brand name "HOMCOURT".

The Complex has a provision for covered car parking for 74 cars and is expected to open for Guests from March 2009.

Regaliaa Realty Ltd is a listed Public Limited Company engaged in the business of Property Development & Construction. The Company was promoted in the year 1994 with the purpose of designing, developing, constructing and marketing apartments, semi independent houses, independent houses, IT Parks, Malls, Service Apartments, etc.

At 10:45 am, Regaliaa Realty was quoting at Rs 355, up Rs 7.60, or 2.19%. Stock markets ended weak on Thursday as global cues were negative.