NEW DELHI: Casper Realty, a wholly-owned subsidiary of Phoenix Mills (PML), has bought two land parcels for Rs 891 crore in Mohali, Punjab.
These plots, cumulatively admeasuring over 13.14 acres, were auctioned by Greater Mohali Area Development Authority (GMADA). Both plots are classified for commercial use.
Shishir Shrivastava, managing director of the company said, “We intend to develop a retail-led mixed-use destination on this land parcel which will include retail, cinemas, F&B, commercial offices and hotels.”
PML and its subsidiaries have an operational retail portfolio of over 11 million sq ft of retail space across eight cities and are further developing approximately four million sq ft of retail space across three new malls.
