SIG­NA­TURE GLOBAL TO BUILD `100 CRORE SHOP­PING MALL IN GHAZIABAD

Shopping Center News - - NEWSMAKERS NATIONAL -

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.

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