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Smartworld Developers expect sales worth Rs 250 cr from retail project

Smartworld Developers expect sales worth Rs 250 cr from retail project

The 100,000 sq ft project in Gurugram is spread over three floors, with units ranging from 500 sq ft to 12,000 sq ft

Smartworld Developers launched its 100,000 sq ft premium high street retail project, ‘Smartworld Orchard Street’ located in Gurugram. The company is expecting a top line of Rs 250 crore from this project.

The project is spread across three floors, with units ranging from 500 sq ft to 12,000 sq ft.

The firm also leased out 15,000 sq ft on the third floor, on the first day to Big Fish Ventures for F&B outlets.

Big Fish Ventures is a Delhi-based hospitality group that runs popular dining lounges such as The Junkyard Cafe, Key Night Club, Garam Dharam, and Local.

“Looking at the increasing demand, we have launched our premium high street retail project that will offer world-class F&B, shopping, and entertainment experiences to our patrons. The project has already attracted interest from leading brands. On the day of the launch, we signed an agreement with Big Fish Ventures to lease the entire third floor,” said Vivek Singhal, CEO of Smartworld Developers.

Smartworld Orchard Street is located at Sector 61, Golf Course Road (Extn) and is surrounded by a slew of residential projects and an IT Special Economic Zone (SEZ) with a catchment of about 200,000 visitors.

The company said that since the project quite close to Smartworld’s residential project, it will have an immediate catchment of more than 8,000 residents.

Smartworld Developers recently announced that it has secured an investment of Rs 250 crore from Motilal Oswal. The funds are to be used as growth capital.

In a giant step towards developing Smart Homes, the company said it has collaborated with Schneider Electric to drive 360-degree home automation. Through this tie-up, Smartworld Developers will build positive impact homes with lower waste and healthier interiors by incorporating smart product lines from Schneider Electric, such as Wiser Smart Homes and Modular Switches.

Source

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Axiom Landbase

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