Connect with us










Main

Pacific bags Rs 100 cr shopping mall project in Delhi’s Dwarka from DMRC

pacific dwarka

New Delhi: Realty firm Pacific India has bagged a project from Delhi Metro Rail Corporation (DMRC) to develop a shopping mall and multi-level car parking at Dwarka in the national capital with an investment of about Rs 100 crore, a top company official said.

Pacific India, which is also engaged in the hospitality and education business, bagged this project, which also includes a multi-level car parking, at Dwarka here through a bidding process that involved two other local players.

“We have bagged a project from DMRC to develop a shopping mall at Dwarka Sector 21 metro station in the national capital,” Pacific India Executive Director Abhishek Bansal told .

The company will develop a total of 4.5 lakh sq ft area, including a shopping mall of 3 lakh sq ft of leasable area and a multi-level parking, having capacity of 600-700 cars, he added.

Bansal said the total project cost of this metro mall would be Rs 90-100 crore and the same would be funded through internal accruals.

Advertisement










“The structure of the mall has already been developed by the DMRC. We will soon start the interior works and launch this mall by March next year,” he said, adding that the mall would also have multi-screen cinema.

“With two upcoming malls in the national capital, we will have a total of 5 shopping malls in our portfolio,” Bansal said.

Last year, Pacific had bagged another project from the DMRC where it is developing a 2.5 lakh sq ft shopping mall and a multi-level car parking with a capacity of 600 cars at Netaji Subhash Place metro station.

The Delhi-based company has a 6 lakh sq ft shopping mall at Tagore Garden in West Delhi and earns a rental income of Rs 10 crore monthly. That apart, it has a 5 lakh sq ft shopping mall at Sahibabad and another 3 lakh sq ft mall in Dehradun.

Pacific has already completed two housing projects in Moradabad and Dehradun totalling 600 apartments. It is developing a golf-course project in Dehradun- ‘Pacific Golf Estate’- comprising 2,000 flats, of which 200 units have been delivered so far. In hospitality sector, the company has two hotels in Delhi-NCR and one in Dehradun, comprising around 250 keys.

Advertisement










Latest News

News11 hours ago

Central Park’s Bignonia Towers in Sohna Achieves Rs 500cr Sales Bookings 

New Delhi, 14th June 2024: Bignonia Towers by Central Park in in Sohna has recorded sales bookings of Rs 500...

News11 hours ago

Author Ashwinder R. Singh Launches His Third Book, “Master Commercial Real Estate”

June 14, 2024: Ashwinder R. Singh, acclaimed for his insightful contributions to real estate, launched his third book, “Master Commercial...

News12 hours ago

Grade A Office Spaces Demand Growing at a Brisk pace, 164.3 Mn Sq Ft Added Since 2021

June 14, 2024: India’s office market is undergoing a profound transformation, reflecting the country’s robust economic growth, demographic advantages, and...

News12 hours ago

Real Estate Sector Needs to Gear Up for New Housing Challenges Until 2029, With Rain Harvesting as a Core Element for Housing Projects: HUA Additional Secretary

New Delhi, June 14, 2024: Additional Secretary of the Ministry of Housing and Urban Affairs, D Thara, on Friday asked...

News2 days ago

Tier-2 Cities Closing the Gap with Top-8 as Property Prices Surge by 10-15% in Prime Areas: Housing.com Report

New Delhi, June 13, 2024: Housing.com has released its inaugural “The Bharat in India” report on Thursday. The report unveils...

News2 days ago

Housing Prices Soar 13% CAGR as Inflation Moderates to 5.4%: ANAROCK Report 

Mumbai, June 13, 2024: Inflation, the gradual increase in the general prices of goods and services, erodes the purchasing power of money...

Trending