Real estate company Omaxe will invest ₹400 crore to develop two new commercial projects in Faridabad, Haryana, to expand its business.
The two new projects will be part of its 120-acre mixed-use development named ‘World Street by Omaxe.’
The first commercial project, New Singapore is spread over 11.6 acre, comprising 15 lakh square feet of area, largely retail spaces, while the other project Clarkee, covering nearly 2 acre, will be developed as party and nightlife destination.
The projects are expected to be completed by 2029.
- Read also: DLF to invest ₹20,000 cr in medium term to expand its commercial real estate biz
The total estimated cost to build these two projects is over ₹400 crore, Omaxe said, adding that this will be funded through internal accruals.
The company has launched around 700 units so far.
The rates in these two projects range between ₹4,000 per square feet to ₹10,000 per square feet.
Designed as Faridabad’s ultimate nightlife destination, Clarkee will host 15+ nightclubs, bars, and restaurants.
Omaxe Group Managing Director Mohit Goel said, “This expansion will bring a world-class retail and lifestyle experience that rivals top international destinations. Faridabad’s growing demand for premium commercial spaces makes this the perfect time to introduce a project of this scale and vision.”
- Read also: Adani in advanced talks to acquire Emaar India for $1.4 billion, sources say
Established in 1987, Omaxe is one of India’s leading real estate developers.
Listed on the NSE and BSE in 2007, Omaxe has delivered about 135.84 million sq ft of real estate across 31 cities in 8 states.
Its diverse portfolio spans residential, commercial, and integrated township projects.
Discover more from
Subscribe to get the latest posts sent to your email.
Be the first to comment