Vatika Group recently joined forces with IREAA India Pvt Ltd as strategic leasing partners for their retail projects in New Gurgaon. This collaboration is expected to draw numerous renowned retail brands to the area, providing an exceptional shopping experience for all consumers in New Gurgaon.
Vatika has the largest footprint in retail in New Gurgaon. Its retail offerings in the region have garnered a 67% share compared to other developers. The real estate player has strategically positioned its retail projects in the area to ensure maximum footfalls. In addition, its projects boast competitive pricing and top-notch facilities, setting them apart from other micro markets in the region.
The affordability of rates and rentals, combined with superior infrastructure and facilities, make New Gurgaon an attractive retail destination. Furthermore, with 18,000-20,000 dwelling units currently under development, New Gurgaon presents a promising opportunity for retailers. However, rates are on the rise, making this partnership with IREAA India an exciting prospect for retail brands looking to establish a presence in this thriving market.
New Gurgaon presents a plethora of opportunities with its diverse range of projects, catering to the evolving needs of different segments of the population, from affordable to high-end living. Hence, there is a growing requirement for retail options catering to the varying needs and preferences of the residents. Furthermore, the region's favourable location and infrastructure have already attracted prominent brands. Recognising the growing demand for retail, Vatika has strategically planned a range of retail offerings, including neighbourhood retail and high-street retail, with sizes ranging from 300 sq ft to large anchor stores. Some of these retail spaces are already operational, while others are currently under construction.
With nearly 500,000 residents already residing within a 5 km radius and an additional 4,000 residents moving to New Gurgaon every month, the demand for retail is steadily growing in the area, making it a prime location for retail businesses to thrive.
Ritu Gupta – Head Leasing, Vatika Ltd said, “The partnership between VATIKA and IREAA is just the beginning of what we hope will be a long and successful relationship. We are confident that IREAA will bring their expertise in leasing our retail projects in New Gurgaon and residents here will experience great shopping opportunities.”
Tarun Jasuja - Associate Director, IREAA INDIA Pvt Ltd said, “New Gurgaon is set to be a retail destination with a wide range of shops, boutiques, cafes and restaurants neighbouring 5-star Hotel. We are confident that it will become a hub, where people can shop, dine, and socialise. Additionally, the retail projects are highly visible and easily accessible with ample parking.”
