MAM

Olympia to spend Rs 7-8 crore on promoting Enchante project

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BENGALURU: With projects spanning nearly 20 lakh sq ft in Kolkata and Chennai already in its kitty, the Olympia Group has announced one more ? Olympia Enchante ? at Whitefield in Bengaluru.

The approximately Rs 150 crore Enchante comprises 26 niche super-luxury villas, each priced at Rs 5.25 crore and above. The group plans to spend 5 per cent of the cost i.e. Rs 7 to 8 crore on marketing and promotion of the project.

Confirming the development, Olympia Infratech (P) Limited director Aditya Kankaria toldindiantelevision.com: ?We spend between 3 to 5 per cent of the project cost on communications and marketing. Our group has various projects under construction worth about Rs.2000 crores. In the case of Enchante, since this is our first project in Bengaluru, we should be spending around 5 per cent or Rs 7 to 8 crores towards marketing, communications in print, digital, direct marketing and radio.?

He informed that their communication spends would be over a twelve month period ending March 2015, when they start handing over possession of the villas. ?We hope to complete the project by June 2015,? he added.

For its latest project, Olympia is targeting buyers in Bengaluru, Chennai, Mumbai and New Delhi and is learnt to have approached high-level executives in several corporate houses as part of its direct marketing approach.

An in-house team, which handles the group?s social media communications, will take care of the Enchante project as part of its duties. While the creative aspect will be handled by Trisis.

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