Hotline: 1800 102 2007
X
Search Business Opportunities
Jul, 23 2018

Phoenix Mills to Invest Rs 230 cr for premium retail development in Ahmedabad

The JV will develop a premium retail destination spread over approximately 0.6 million square feet and this retail development will be operated and managed by PML.

The Phoenix Mills (PML) has announced that it has formed a 50:50 joint venture with Ahmedabad-based BSafal group to acquire a 5.16 acre land located on Sarkhej-Gandhinagar (SG) Highway with an investment of Rs 230 crore.

 

“This investment is in line with our plan to establish presence in emerging tier-1 cities. Ahmedabad has been on our radar for some time as the city has one of the most discerning customers in the country who are young, aspirational, well-travelled and have high propensity to spend. Our proposed premium retail development will cater to upmarket residential areas of Western Ahmedabad as well as the catchment areas,” Shishir Shrivastava, Joint Managing Director, PML said in a release here.

With this foray in Ahmedabad, the company’s retail portfolio under development stands at about 4.6 million square feet in addition to its existing operational portfolio of about 6 million square feet, he said.

“This brings us very close to our stated plan of adding 5-6 million sq ft by FY23,” he added.

The JV will develop a premium retail destination spread over approximately 0.6 million square feet and this retail development will be operated and managed by PML.

Comment
Related opportunities
  • Others Food Service
    About Us: What The Fork is an established brand in OMR,..
    Locations looking for expansion Tamil nadu
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater chennai Tamil nadu
  • Men's footwear
    About: Established in 2010, Vision Footcare India Private Limited is promoted..
    Locations looking for expansion Delhi
    Establishment year 2010
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: Ethix Industries takes great pride and happiness to introduce our..
    Locations looking for expansion Tamil nadu
    Establishment year 2000
    Franchising Launch Date 2012
    Investment size Rs. 2lac - 5lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chennai Tamil nadu
  • Real Estate
    About Us: Co-offiz is an office for all young professionals, start-ups,..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities