Future group to develop 17 mall projects

Ahmedabad: Future group-promoted Kshitij Investment Advisory Co plans to pump in nearly Rs. 1,200 crore for as many as 17 mall projects including one at Ahmedabad.

Currently, Kshitij Investment is implmenting various projects, which include 12 malls and five large size ‘market cities’.

“All these projects will come up in 17 different cities of India, which also include Ahmedabad. The company is expected to infuse Rs. 1,200 to Rs. 1,300 crore for the projects,” Kshitij Investment, MD and chief executive officer, Shishir Baijal said on the sidelines of the launch of Kshitij Retail Destinations’ new shopping center called ‘Gulmohar Park’ in Ahmedabad. The new shopping destination is spread across 220,000 sq. ft.

The 17 new projects translate into 21 million sq. ft retail and mixed use space.

These malls are likely to be ready for operations by the year 2011”, he added.