Mumbai, Sep 9 (Inditop.com) Realty firm Entertainment World Developers will invest Rs.2,000 crore for setting up 20 malls across India under its rent-free revenue sharing concept for emerging brands.
“We will invest Rs.2,000 crore for setting up 20 malls spread across one million square feet in 11 states and 20 cities by 2011,” said company chairman and managing director Manish Kalani.
“Around Rs.800 crore will be raised by way of private equity and the remaining will be debt,” Kalani added.
The company, under its mall-in-mall concept “Treasure Showcase”, will provide small retailers space between 15,000 square feet and 50,000 square feet.
“The concept is based on a transparent and pre-determined margin-sharing revenue model. It is very popular globally and we feel it will work here as well,” Kalani said.
“Nearly Rs.300 crore will be invested in creating and promoting Treasure Showcase, which would include the cost of real estate.”
