Galveston Luxury Condos will take in Gulf Views

Houston Business Journal, October 27, 2006,

GALVESTON —Galveston is getting another luxury condominium development. Construction is set tro begin in January 2007 on Regatta, a complex with four towers, 11 stories each being built by Global Royal Investments Ltd.

The development will consist of 247 condominium suites overlooking the Gulf of Mexico. Positioned behind the seawall, it will be built 5 feet above sea level for maximum storm protection and constructed to withstand 155 mph winds.

Regatta will have four condominiums per floor ranging from 1,595 to 2,087 square feet and two penthouses on the 11th floor of each tower that will be 3,578 to 3,746 square feet. Reservations for Tower III are available at pre-construction prices. The units average $289 per square foot. More than 67 percent of Tower III and 25 percent of Tower I at the Regatta is reserved, according to Global Royal Investments Ltd. principals Dr. Surendra Mahato and Ratan K. Jha.

Mahato, based in Minsk, Belarus, is a medical doctor who oversees numerous international family businesses. Jha is a registered professional engineer, based in Houston.