Developers and private equity players are set to put Indias retail space market on full throttle with investments worth anywhere between $5 billion and $10 billion in FY09-FY10.
In moves that would lend retail space gigantic proportions, the Runwal Group and Singapores GIC will use a joint venture to launch a Our City Centre retail mall over 1.1 million sq ft of area in Ghatkopar, Mumbai. In the second phase of their foray, they will develop another Our City Centre over 7 million sq ft of area in Hyderabad. Mumbai-based ICS Group is their project advisor.
Equally bullish is Sheth Developers, which is building a shopping centre called Viva City over1 million sq ft in Hyderabad and Thane, Mumbai. The company is investing Rs 400 crore in this new retail development and has not associated with any private equity firms.
More : financialexpress.com
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