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Sri Lotus Signs Major Development Deal in GIFT City
7 Jan
Summary
- Sri Lotus Developers secured a large Gujarat project in GIFT City.
- The project involves premium retail, commercial, and residential spaces.
- This venture marks Sri Lotus's expansion beyond its Mumbai base.
Sri Lotus Developers & Realty Ltd. has announced a significant expansion into Gujarat with a large-scale development project in GIFT City, Gandhinagar. This marks the company's first major venture outside of its established Mumbai operations.
The project, which spans over 1 million square feet of built-up area, will feature premium retail outlets, Grade-A commercial office spaces, and high-end residential units. It aims to cater to the increasing demand from financial institutions, fintech, and IT/ITeS firms looking to establish a presence in GIFT City, a rapidly developing global financial hub.
The development agreement was signed with Abhishek Bachchan through Sri Lotus's subsidiary, Rise Root Projects Pvt. Ltd. This collaboration utilizes a profit-sharing model, enabling Sri Lotus to maintain an asset-light strategy while focusing on design, planning, development, and execution expertise. This approach is expected to enhance capital efficiency as the company grows.
