Future Group to launch World Market in Bangalore with Sattva Group, a photo by jungle_concrete on Flickr.
Future Group to launch World Market in Bangalore with Sattva Group. For more Real Estate updates, visit indianconcretejungle.blogspot.in
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Kishore Biyani’s Future Group has tied-up with a Bangalore-based developer Sattva to launch a first of its kind Indian wholesale market called ‘World Market’. The Bangalore based project, located on Old Madras Road, is to be made with an investment of over Rs 100 crore.
World Market mall will be spread across 10.72 acres, with a total developable area of 10 lakh sqft. The first phase will have a built up area of 1,80,000 sqft. Scheduled to be launched at the end of this year, it will stock non-food and non-clothing merchandise such as, fashion accessories, crockery, interior and outdoor decors, hardware, toys, stationery, electronics, and leather products.
World Market is being built on the lines of Dragon Mart in Dubai and China Commodity City (CCC) in Yiwu in China. The mall will provide housing to traders' from the retail spectrum, warehousing and storage facilities, packaging and courier services, alignments with transporters for the movement and delivery of goods, loading and dispatch infrastructure, banks, food and beverage outlets as well as hotel accommodation.
As reported in the media, the Sattva Group had purchased the land for World Market, in a distress sale for around Rs 35 crore. This was where the BPL factory was located.
Future Group is also planning a 110 acre food park, which will manufacture goods and products worth Rs 2,500 crore. Future Group currently operates 200 stores in Karnataka, across 2.5 million sqft of retail space.
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