Realty developer M3M will invest Rs 130 crore to develop 4.87 lakh square feet of retail area in Gurugram.
The company expects Rs 1,000 revenue from the project.
The project – M3M Route65 in Gurugram, next to the Worldmark in sector 65. Spread across 4 acres.
“We are quite aggressive in our retail portfolio and have so far delivered over 5 million square feet of retail space in Gurugram itself,” said Pankaj Bansal, Director – M3M India.
‘M3M Route65’ is spread across four floors with 727 units, ranging from 170 to 4800 square feet in area, with ample parking space in the basement.
“Besides general retail, we have also kept more than 1 lakh square feet space on the third floor for food-courts and entertainment zone. This project has close proximity to premium residential complexes like Golf estate, Trump Towers and M3M Merlin. We are also looking forward to launching another 2 million square feet of retail-cum-office space soon in Gurugram,” Bansal said.
Indian retail industry is one of the most dynamic industry, contributing about 10% to India’s GDP and 8% of the employment. India is the world’s fifth-largest global destination in the retail space.
M3M India is one of the largest player in realty in India which has delivered over 40 projects which comprise luxury residential, retail, Shop cum offices, service apartments and plotted developments. The company has to its portfolio about 28 million square feet of overall space.
Source : ET