September 25, 2024 |
Bhumika Group Forays Into Gurugram Market, to Develop Commercial Project on Mg Road
This strategic acquisition marks the Bhumika Group’s official entry into the Gurgaon market, further strengthening its footprint in the NCR region. The overall topline expected from this project is approximately Rs 300 crore.
The Bhumika Group, a leading real estate developer in northern India and the largest mall developer from Rajasthan, has signed a new commercial project on MG Road, Gurgaon, securing an approximately 1-acre land parcel. This strategic acquisition marks the Group’s official entry into the Gurgaon market, further strengthening its footprint in the NCR region. The overall topline expected from this project is approximately Rs 300 crore.
This comes after the Bhumika Group’s previously-announced plans to add 8.5 lakh sq. ft. of retail space in Delhi-NCR in 2024, which includes a retail-focused mixed land use project and Metro malls in Faridabad. The new Gurgaon project further underscores the Group’s commitment to developing premium commercial and retail spaces that cater to evolving consumer needs.
Uddhav Poddar, Managing Director, Bhumika Group, said, “We are excited to establish our presence in the Gurugram market with our new commercial project at MG Road. This is our third major project acquisition in NCR in the past 6-12 months, following the mixed-use development in Faridabad, which integrates retail, hospitality, and residential spaces, and our transit infrastructure project with DMRC. Each of these ventures is a testament to our commitment to delivering dynamic commercial spaces that not only enhance the urban landscape but also contribute meaningfully to the region’s economic growth.”
Siddharth Katyal, CEO, Bhumika Group, said, “As we continue to shape the retail landscape, our new MG Road, Gurugram, project represents a significant milestone in our journey. Following our successful ventures such as Urban Square Mall in Udaipur and our collaboration with DMRC on the transit infrastructure project, we remain committed to innovation and quality. Each development is designed to stand out, creating exceptional experiences for our stakeholders and further cementing our position as a leader in the industry.”
Source : FE
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