Bhumika Group continues to sign brands for Udaipur mall project
Property developer Bhumika Group has leased almost two lakh square feet of its upcoming 1.8 million square feet mixed-used development project in Udaipur, and is continuing to sign fashion brands for the venture.
Bhumika Group’s ‘Urban Square’ development is one of the only few projects of this nature in Udaipur going ahead, as per its pre-pandemic schedule, ET Bureau reported. The development has recently obtained Fire NOC and partial completion and part of the development will comprise a large shopping mall.
“We are taking all necessary actions to offer the possession of Phase I soon,” Bhumika Group’s managing director, Uddhav Poddar, told ET Bureau.
“All the brands signed up earlier have honoured their existing commercial terms post Covid as it was during the agreement signing and they have confirmed that they will be taking possession as per the committed timelines.”
The Rajasthan-based business has recently signed lease agreements with clothing and lifestyle brands including Allen Solly, Van Heusen, Louis Philippe, Spyker, and Funland, among others. On February 23, the business announced its latest additions to the mall as United Colors of Benetton and Just for Kids on its Facebook page.
Bhumika Group is currently working on a number of development projects. The business plans to invest Rs 450 crore ($67.6 million) in a retail project and two residential projects in Udaipur, Alwar, and Jaipur.
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