SIGNATURE GLOBAL TO BUILD `100 CRORE SHOPPING MALL IN GHAZIABAD
Realty ͤrm Signature Global, which is into affordable housing, today said it will invest ₹100 crore to develop its ͤrst shopping mall at Ghaziabad in Uttar Pradesh (UP). In this mall, the Delhi-based company is also developing 80-rooms serviced apartments/ suites to be managed by hospitality ͤrm Clarks Premier.
The total saleable area is 1 lakh sq. ft. in this shopping mall, which is expected to be operational by the end of the next year. This is the ͤrst project of the company in UP. Signature Global is coming up with its maiden retail venture ‘Signature Global Mall’ at Vaishali, Ghaziabad with a total investment of ₹100 crore, the company said in a statement. The investment would comprise of land and construction cost which will be met by internal accruals, it added. The company in the last year had raised ₹200 crore fund from private equity player KKR. The Delhi-based ͤrm had raised ₹150 crore from ICICI Prudential in 2016. “Location being the key to the successful investment, Signature Global Mall is opening at the very close vicinity to the residential areas of Vaishali and other parts of NCR,” Pradeep Aggarwal, Co-Founder and Chairman of Signature Global, told PTI.
The company has launched 9 affordable housing projects, comprising about 9,400 units in ₹15-25 lakh price range, in Gurugram, in last three years of its operations. All projects are under the Haryana Affordable Housing scheme. It has also started one housing project at Karnal in Haryana comprising of the 350 units.