Smartworld Developers Pvt. Ltd launched its premium high street retail project, Smartworld Orchard Street ‘located on the Golf Course Road (Extn), Gurugram spread over 100,000 sq ft in size. The company is expecting a top line of Rs 250 crores from this project.
Smartworld Orchard Street is spread across three floors, with units ranging from 500 to 12,000 sq. ft. One of the key USPs of the project is that every unit is front facing and the project has a 150-meter-wide frontage. Within a day of launch, Smartworld Developers leased out an area of approximately 15,000 sq. ft (the complete third floor) to Big Fish Ventures, which will open four F&B outlets on the third floor.
Commenting on the launch Vivek Singhal, CEO of Smartworld Developers, said, "With diminishing open spaces, high street retail projects have become the go-to place for food, shopping, and entertainment requirements. Looking at the increasing demand, we have launched our premium high street retail project, ‘Smartworld Orchard Street’ that will offer world-class F&B, shopping, and entertainment experiences to our patrons. Located in the heart of Golf Course Road (Extn.), the project has already attracted interest from leading brands. On the day of the launch, we signed an agreement with Big Fish Ventures to lease the entire third floor.”
The launch of the project was followed by the signing of an agreement between Smartworld Developers and Big Fish Ventures for the opening of four F&B outlets at Smartworld Orchard Street. The agreement was signed between Vivek Singhal, CEO, Smartworld Developers, and Umang Tewari, Founder, of Big Fish Ventures.
“After our outlets in Connaught Place, Saket and Chanakyapuri, we were eyeing a prime location in the millennium city of Gurgaon and we zeroed onto Smartworld Orchard Street because of its great location, affluent catchment, footfall envisaged, and its wide frontage. We are excited to sign up with them and we did not want to miss this fantastic opportunity” said Umang Tewari, Founder, of Big Fish Ventures.
Smartworld Orchard Street is surrounded by a slew of residential projects and an IT Special Economic Zone (SEZ) with a catchment of approximately Rs 2 lakhs. The company disrupted the real estate market of Delhi NCR with its inaugural projects that offered low-rise floors with high-rise amenities—Smartworld Orchard and Smartworld GEMS located at premium locations in Gurugram. Smartworld Developers has exceeded Rs 4,000 crore in sales, Rs. 25,000 crores worth of projects, and over 2.5 mn sq ft of development potential in the next five years.
Smartworld Developers recently announced that it has secured Rs 250 crore of investment from Motilal Oswal. The funds will be used as growth capital for Smartworld Developers. In a step towards developing Smart Homes, it has collaborated with Schneider Electric driving 360-degree home automation. Through this collaboration, Smartworld Developers will build positive impact homes with lower waste and healthier interiors by incorporating smart product lines from Schneider Electric, which includes Wiser Smart Homes, Modular Switches, etc.
