Rcube Projects Pvt Ltd has invested Rs 120 crore to launch Rcube Monad Mall in Noida. The GLA of the neighbourhood mall spans across 2,50,000 sq.ft. where it has dedicated 40 per cent of the area to FEC and F&B and the remaining 60 per cent covers retail, Anuj Malhan, founder, Rcube Projects Pvt Ltd. Told.
Apart from this, the real estate group is planning to launch another property - with an investment of Rs 80 crore - in Pitam Pura, Delhi spanning across 1,00,000 sq.ft area. "It will take us at least one year to get the Noida mall at the sustaining level and post that we will be able to get our RoI. The mall runs on the lease model with a minimum guarantee and revenue share from the tenants," he asserted.
The mall in Noida will be housing around 80 brands and the group is expecting 90-95 of its occupancy by March. It brings together a curated selection of national and international brands like Lifestyle, Fab India, Modern Bazaar, Nestasia, and Home Stop, alongside specialty stores like Shoppers Stop Beauty, Metro Shoes, Dayal Opticals, Nykd by Nykaa, Sweet Dreams and Bata along with F&B chains like Starbucks, Blue Tokai, Miss Nora, Birch by Romeo Lane, Amritsari Express and Haldiram. It also nestles entertainment options like MovieMax Edition and Funky Island. "By April, we'll be launching a mall loyalty program and once the mall is fully operational, we are expecting a footfall of 14,000 - 16,000 over the weekends and 8,000 - 9,000 over the weekdays," he said.
The group also runs another mall in Rajouri Garden, Delhi spanning across 1,50,000 sq.ft and it houses brands like Shoppers Stop, INOX Insignia, Cafe Delhi Heights, Starbucks, Cafe Nora, and Imperfecto to name few.
Rcube Projects Pvt Ltd, which boasts of over 15 years of experience in real estate and has also developed 23 metro stations, has been growing at about 12 per cent year-on-year.
