Mumbai: Vardhaman Developers, which are set to launch Mumbai's first jewellery mall Jewel World, will build four more such malls with an investment of over Rs 400 crore, a top company official said.
"We hope to launch Jewel World by June and are planning to build four more jewellery malls in Mumbai before we start expanding in India," Vardhaman Developers Managing Director Rajesh Vardhan told PTI.
"The investments in the four malls will be upwards of Rs 400 crore and will be raised by the company through its own resources," Vardhan added.
The four malls are likely to come up in the suburban Mumbai areas of Borivli, Mulund, Ghatkopar and Santa Cruz.
Jewel World, which proposes to be a one-stop-shop for all kinds of jewellery in the traditional Zaveri Bazaar market here, probably has the most expensive lease rentals.
"The lease rentals for Jewel World is Rs 475 per square feet, almost double the general malls and a tad more than the high street malls," Vardhan said.
"With conservative estimates, we expect Jewel World to witness a Rs 2,000 crore turnover in the first year of operations," Vardhan said.
"We hope to launch Jewel World by June and are planning to build four more jewellery malls in Mumbai before we start expanding in India," Vardhaman Developers Managing Director Rajesh Vardhan told PTI.
"The investments in the four malls will be upwards of Rs 400 crore and will be raised by the company through its own resources," Vardhan added.
The four malls are likely to come up in the suburban Mumbai areas of Borivli, Mulund, Ghatkopar and Santa Cruz.
Jewel World, which proposes to be a one-stop-shop for all kinds of jewellery in the traditional Zaveri Bazaar market here, probably has the most expensive lease rentals.
"The lease rentals for Jewel World is Rs 475 per square feet, almost double the general malls and a tad more than the high street malls," Vardhan said.
"With conservative estimates, we expect Jewel World to witness a Rs 2,000 crore turnover in the first year of operations," Vardhan said.
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