Unitech to invest Rs 20000 crore to develop 48 malls
on December 14th, 2007 at 9:05 amUnitech Ltd, the real estate major plans to invest Rs 20000 crore to develop 48 malls and shopping centres across the country in the next six years to expand its presence in the organised retail sector.
Unitech currently has two operational malls in Noida and Delhi. After the proposed expansion, the number would reach 50 by the end of 2013. The company plans to develop over 60 million sq ft of retail space through these malls and shopping centres.
The company would develop 24 malls covering more than 20 million sq ft in the first phase. The company is targeting metros and major state capitals for its retail expansion and will gradually move to Tier-II and Tier-III cities.
The company would develop malls and shopping centres in the NCR, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad, Chandigarh, Dehradun, Lucknow, Bhopal, Goa, Vizag, Bhubaneshwar, Kochi and Trivandrum in the first phase.
