Real estate developer Bhumika Group is set to enter the NCR real estate market with the launch of its first high-street commercial project on Mathura Road, Faridabad. The company is planning to invest Rs 600 crore to develop this project in the next four years. Spread across 5 acre in Faridabad’s sector 21, the project will be a joint venture with Amolik Group. The company aims to develop a saleable area of 5.5 lakh square foot with an expected revenue of Rs 1,000 crore.
The funding for this project will be done through pre-sales, internal cash flows and institutional investments. While the company will be selling most of the space in this retail project, it plans on retaining some area for leasing purposes. The company is also planning to launch a residential project in Faridabad in the future.
Bhumika Group has recently opened the Urban Square Mall in Udaipur, which has achieved 100% occupancy with many leading brands such as Shoppers Stop, Lifestyle, Pantaloon, Reliance, Rare Rabbit, Levi’s, Looks Salon, Starbucks, KFC, Pizza Hut and Chicago Pizza among many others. Phase 1 of the Urban Square Mall, with over 85 brands from India and abroad, is already operational. The second phase of the mall will also be launched soon.
Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
Email: dhwani.meharchandani@housing.com
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