New Delhi, Aug 24 - Realty major Emaar MGF Land said Monday it will set up a residential complex in the northeastern city of Shillong at an investment of Rs.400 crore.

The 84-acre Windermere Estates township will have world-class villas, modern community retail centre, clubhouse and a hotel, the company said in a statement.

'The development of Windermere Estate will have a multiplier effect on the local economy and provide employment opportunities, which will directly and indirectly benefit over 1,000 people,' it said.

'More importantly, this move is a reflection of Shillong?s growing stature as a prominent business and education hub and a world-renowned tourist destination in the northeast,' the company said.