Treasure Market City, Indore
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| Project Details: |
| Asset Class |
: |
Retail led mixed use development
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| Land |
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19.52 acres
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| Leasable / Saleable Area |
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2.01 million sq ft including Retail -1.34 million sq ft, Commercial - 0.48 million sq ft, Hotel - 0.19 million sq ft
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| Location |
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Indore, Madhya Pradesh |
| Indian Portfolio Company |
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Indore Treasure Market City Private Limited |
| Development Partner |
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Treasure World Developers |
| Investment Date |
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June 2007 |
| Completion Date |
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March 2013
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| Funds Committed |
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EUR 11.1 million |
| Funds Disbursed |
: |
EUR 10.1 million |
| Equity Stake |
: |
28.9% |
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Project
The project is located in Indore, the commercial capital of the state of Madhya Pradesh. Traditionally, the city’s economy has been driven by trading, manufacturing and agro-industries. Indore is also a prominent industrial hub for automobiles, auto ancillaries, pharmaceuticals, metal works and garment industries. In recent years, the city has emerged into a prominent education and services center in central India.
Our partner in the project, Treasure World Developers, is a leading developer of retail malls and residential townships in Tier II cities across India. The company has pioneered large developments in a number of cities in central and western India.
The project development is spread over four phases, currently the first phase, Phase IA, is under development which comprises of 0.77 million sq ft of leasable area (retail). 62% of the civil works for the first phase is complete with completion targeted for June 2011. The first phase retail has been leased to the extent of 21%.