Aurangabad & Nashik
Aurangabad
Following its agreement to acquire approximately 750,000 sq. ft. of land in Aurangabad, the Group is progressing with the project, which is intended to be a mixed-use shopping mall/ hotel development.
Good progress has been made in obtaining necessary permissions and the Concept & Design Plan has been finalised. There is continued interest from retailers to lease space within the site and negotiations with potential anchor tenants are in progress.
The Group have an agreement to build and own the Hotels with Intercontinental Hotel Group operating them under their Holiday Inn brand.
Land acquisition completed - Aurangabad Maharashtra
Nashik
Nashik is situated approximately 190 km north-east of Mumbai and forms part of the so called golden triangle with Mumbai and Pune. The site is in prime location just five minutes drive from the main Mumbai Highway.
The Group has acquired a 17 acre site in a prime location in Nashik for the development of a shopping mall or a mixed-use shopping mall and hotel complex on the site. This will be the Group's third development project and a major step towards achieving the Group's initial target of four million square feet of built-up area.
As in Aurangabad, the Group have an agreement to build and own the Hotels with Intercontinental Hotel Group operating them under their Holiday Inn brand
Land acquisition completed - Nashik