Bhumika Group, a renowned real estate developer and the largest mall developer in Rajasthan, has entered the Gurgaon market with a new commercial project on MG Road. Acquiring a 1-acre land parcel, the Group aims to generate approximately INR 300 crore in revenue. This move aligns with their plan to expand their retail footprint in Delhi NCR, with 8.5 lakh sq. ft. of space expected by 2024. The project will feature premium retail, dining, and entertainment options, following the success of their Urban Square Mall in Udaipur.
Bhumika Group, a major player in the real estate industry, has made a significant move by acquiring approximately 1 acre of land in Gurgaon's MG Road for a new commercial project. This acquisition marks the company's official entry into Gurgaon's booming commercial market, a key step in their strategy to strengthen their presence in the National Capital Region (NCR). The new project is expected to generate approximately INR 300 crore in topline revenue, reflecting the Group's ambitious expansion goals.
This venture aligns with Bhumika Group's previously announced plans to add 8.5 lakh square feet of retail space in Delhi NCR by 2024. These plans include a mixed land use project with a focus on retail, as well as Metro malls in Faridabad, both catering to the growing demand for quality retail and commercial spaces in the region.
The Group's Managing Director, Uddhav Poddar, expressed enthusiasm for the company's expansion, noting their excitement about entering the Gurgaon market with a new commercial project on MG Road. Poddar highlighted that this was their third major project acquisition in the NCR within the past 6 to 12 months. He mentioned that the other two projects include a mixed-use development in Faridabad, which integrates retail, hospitality, and residential spaces, and a transit infrastructure project in collaboration with the Delhi Metro Rail Corporation (DMRC).
Poddar also emphasised that these projects demonstrate the Group's commitment to delivering dynamic commercial spaces that enhance the urban landscape and contribute to the region's economic growth. This statement reflects the Group's vision of creating commercial hubs that are functional and positively impact the city's overall development. By integrating retail, dining, and entertainment into one space, Bhumika Group aims to address the evolving needs of both consumers and businesses.
The MG Road project will build upon the success of Bhumika Group's flagship development, the Urban Square Mall in Udaipur. This mall, the largest in the region, has become a prominent shopping and entertainment destination. The Group plans to replicate this model in Gurgaon, offering a premium blend of retail stores, dining options, and entertainment facilities, positioning the project as a prime commercial destination in the city.
This latest acquisition underscores Bhumika Group's focus on growth and innovation in the real estate sector. By consistently developing high-quality commercial spaces, the Group is not only expanding its footprint but also meeting the ever-changing demands of modern consumers. With its strategic approach, Bhumika Group is well on its way to becoming a dominant force in the NCR's commercial real estate landscape.
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