Nitesh Group to Invest Rs 400 cr on Shopping Mall

December 10, 2007	(1 votes, average: 1 out of 5)  Loading ...
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Real estate developers, Nitesh Group declared their venture into the retail sector with the setting up of shopping mall spread across five acres of land in the city at an investment of Rs 400 crore.

The mall, which is being designed by a Seattle-based architecture firm, will be one of the largest in South India. The mall will house some of the most luxurious brands of world and a portion of the mall will also house service apartments.

In a statement Mr. Ashok Ganguly, VP, Marketing and Communications said that the project will be completed by the end of 2009. He further added that the venture is key part of Nitesh Estate’s larger objective to become a premium real estate player in the country.

Speaking on the importance of the venture he also said that it will enhance their basket of offerings tremendously and gives them the momentum to make a much larger impression in the real estate arena”.

Nitesh has already locked up property for rolling out similar initiatives in Chennai, Trivandrum and Cochin in the next six months. The group will also be setting up super premium retail avenues in luxury five star hotels it is building in Bangalore and Chennai.

News Published Under:   Real Estate India |

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