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Ac­cord­ing to a PTI re­port, Real Es­tate ͤrm Gaursons is investing `750 crore to de­velop a shop­ping mall in Noida Ex­ten­sion to tap business op­por­tu­ni­ties in the com­mer­cial real es­tate which is do­ing well de­spite the over­all slow­down in the prop­erty mar­ket. The shop­ping mall, with 7.5 lakh square feet of re­tail space, is ex­pected to open by March next year.

Gaursons is de­vel­op­ing a 240-acre town­ship ‘Gaur City’ with an in­vest­ment of ₹ 5,000 crore and the mall will be part of this in­te­grated pro­ject cater­ing to 25,000 fam­i­lies.

“There is cur­rently no shop­ping mall in this area. We are soon go­ing to fulͤll this gap, adding that the com­pany will be leasing the re­tail space in the mall that also houses a 9-screen su­per­plex,” Manoj Gaur, Manag­ing Direc­tor, Gaursons was quoted by news agency PTI as say­ing.

Gaur, who is also Vice-President of CREDAI-Na­tional, said the pro­ject cost of this mall is `750 crore to be funded through in­ter­nal ac­cru­als and bank loans. The com­pany has roped in re­tail and F&B brands such as Shop­pers Stop, Lifestyle, Hyper­city, Pan­taloons, Marks & Spencer, Max Fash­ion, Reliance Trends, Croma, Fabindia, Globus, Food Court by Foodquest, Star­bucks and Sagar Ratna, among oth­ers. This is the com­pany’s sec­ond shop­ping mall. It has al­ready de­vel­oped ‘Gaur Cen­tral Mall’ at Raj Na­gar Dis­trict Cen­tre in Ghaziabad.

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