NEW DELHI: Realty firm Logix has developed a mixed-use project comprising a 6 lakh sq ft shopping mall in Noida at an investment of Rs 600 crore and expects to earn an annual rental income of about Rs 80 crore.
Noida-based Logix group is also in the process of giving final exit to Bahrain-based TAIB Bank from its Logix Techno Park project for about Rs 102 crore, company’s Chairman and Managing Director Shakti Nath said.
“We have come up with a 6 lakh sq ft shopping mall and a 4 lakh sq ft office building in Noida at an investment of about Rs 600 crore,” he said, adding that the mall ‘Logix City Center’ was opened last week.
PVR has launched its largest and most premium concept ‘Superplex’ in the mall that would cater to an audience of 1,539 across 15 screens.
The company expects an annual rental income of about Rs 60 crore from the shopping mall, Nath said.
“The total development in this entire project will be 18 lakh sq ft at a cost of about Rs 1,000 crore,” Nath said.
He further said the company has decided to give final exit to its FDI investor TAIB for about Rs 102 crore in its UT park project in Noida.
In 2008, TAIB Bank had acquired 49 per cent of Logix TechnoPark located in Noida.
The company has recently formed joint ventures with ATS Infrastructure for the development of two housing projects in Noida. The land would be provided by the Logix group for both the projects while ATS would be responsible for construction and marketing of the projects.
Credits ET Realty