Forum Projects to invest Rs 1,000-cr in 3 years

Realty major Forum Projects that gave the city its first mall back in 2003 will embark on an expansion drive adding 3.7 million square feet of retail space within the next three years, with a total investment of Rs 1,000 crore.

The projects would be spread across the eastern region and encompassing tier-II city like Bhubaneswar and tier-III ones like Jamshedpur and Rourkela, along with Kolkata and Howrah.

“There exists real retail market potential in the tier-II and tier-III cities in eastern India. Keeping this in mind, we plan to extend our reach to over 2 million square feet of mixed-use development by 2012, and another 3.5 million thereafter,” Rahul Saraf, managing director, Forum Projects, said at the launch of Forum Courtyard.

 

Forum Courtyard, at an investment of Rs 60 crore, was an extension of the Forum mall, and houses international brands, making its foray into the city. These include names such as Mango, Promod, Aldo, Charles & Keith, Mother Care, Anita Dongre, Sisley, Sunglass Hut, Body Shop, and Alcott among others.

Along with retail space addition, Forum is looking at expanding its footprint in terms of real estate projects in Howrah, Bantala, and Adityapur, with a combined space of 6.7 million square feet. Forum Projects plans a luxury condominium project adjacent to Science City at Eastern Bypass, at an investment of Rs 300 crore.