India's leading real estate developer Supertech Ltd. has announced investing of Rs. 750 crore to develop 25 lakh sq. ft. area in retail and commercial segment spread across Delhi-NCR.
The development will take place in Supertech's key commercial projects including Supernova, E square and North Eye.
"Retail segment in India is gaining momentum and Supertech is gearing up to capitalize the opportunity by expanding its retail footprint in Delhi NCR region," said director Supertech Ltd., Mohit Arora.
The real estate major has announced appointment of Vijay Kapoor as CEO of Retail and Commercial segment to strengthen its retail business.
Kapoor has worked with PVR, Eros in the past and has 25 years of experience which will be instrumental in driving our retail business segment.
Almost 400 national and international brands will have their retail presence in projects like Supernova, North Eye, and E-Square -Delhi NCR.
These projects come with a unique perspective and a mix of retail, commercial and residential zone.
India's retail market is expected to nearly double to USD one trillion by 2020 from USD 600 billion in 2015, driven by income growth and urbanisation.
While the overall retail market is expected to grow at 12 percent per annum.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)