Hypercity To Set Up 68 Stores In India

August 9, 2007	(Be the first to rate this story!)  Loading ...
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Mumbai based real estate developer K. Raheja plans to invest a whopping Rs 1500 crore for development of 68 hypermarket stores to come under the ambit of Hypercity. A part of investment will also be used for setting up 250 convenient stores named Expresscity across the country in 5 years.

The group will bet on big retail ventures, thereby contributing to the success of retail revolution which is sweeping through India, says Andrew Levermore, CEO, Hypercity Retail.

The group will also introduce a third retailing format in India with the main focus on serving hi-end customers only. They would be first-of-their kind stores. Of these, the first would be developed over an area of 10,000 sq ft in Mumbai and is likely to be completed by May 2008. To be developed as a gourmet store, it would feature the international standard packaged food, an interactive kitchen with super speciality chefs. The store will have all dishes from spicy Italian to South Indian cuisine.

Staying a step ahead than other supermarkets, Hypercity will offer customers with the value added services like consumer finance ATM facility, telecom services, pharmacy, bakery and restaurants in so serving as one stop shop for everyone, where customers can shop in comfort in a large, modern, and moving environment.

Hypercity is also considering broadening its horizons in tier-II and tier-III cities for rapid expansion. Enjoying the advantages of sheer size and population, metros and tier- I cities are naturally the prime choice of any retail player.  Mr. Levermore envisages to serve as anchor for development in tier II and tier III cities like Jaipur, Amritsar, Aurangabad and Lucknow etc.

With such a great size, Indian retail market can easily accommodate global retail players across the country. The sector has something in store for everyone, adds the South African CEO of Hypercity Retail (India) Ltd.

News Published Under:   Real Estate Developers |

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