Gumberg Global plans to open 21 malls in 7 yrs
US-based Gumberg Global, after launching its maiden project, The North Country Mall in Mohali, is set to spread its wings in Punjab and other parts of the country.
In India within seven years, the company is planning to invest a huge amount of Rs 35,000-Rs 40,000 crore ,as informed by B Anantharaman, managing director and chief executive officer (CEO) of Gumberg India,which is a subsidiary of Gumberg Global.
The company is targeting tier-II and tier-III cities to open new malls, he added.
He further added the mall at Mohali is one of the biggest malls in the northern region. “After Mohali, we are looking forward to open malls in Ludhiana and Jalandhar. We have planned to open 21 malls across the country in seven years”.
In real estate sector of Punjab, this project is expected of being the first 100% foreign direct investment. He also told that the company has selected India for huge investments as it has emerged as one of the biggest markets in the world. “The paying capacity of people in India, especially in the urban areas, has increased manifold. Besides, shopping in malls has been become a fad here”
He mentioned the reason, why Mohali was chosen for their first mall, as it is one of the most upcoming cities not only in Punjab but across the country with huge retail business opportunities and infrastructure to accommodate shopping centre of such a massive scale.
Source: The Tribune
B Anantharaman, Gumberg Global, Gumberg India, India, Jalandhar, Ludhiana, Mohali, Punjab, The North Country Mall
