Chinese Co Mulls Investment In Rs 700-Crore Mall Project
Ahmedabad
The Times of India
City's unique upcoming Rs 700-crore venture has caught the eye of a Chinese company. Foshan Meihua Furniture Co Ltd evinced interest for investment into the first-of-its-kind 'Material Mall' being developed in 1 lakh sq yd area in Vastral along the Sardar Patel Ring Road.
"It's not a routine mall. Apart from shops and offices, a large convention centre, an exhibition and display hall for product launches, a luxury hotel and theatre has been planned for this mega venture. Apart from Chinese company, a firm based in France has also shown interest in the project," said Uday Bhatt, chairman of city-based Galaxy Group.
Managing partner of the US $30 million Chinese company Francis Lee said he has been studying the Indian market and is in talks with Galaxy Group for a strategic tie-up. His company provides designer furniture solutions to five-star and above luxury hotels across the globe. Terming the property show an organized effort, Lee said, "It could have been better and bigger aimed at a larger audience if it had been promoted nationally, involving more players."
Lee, a Singapore national, said that the concept of availability of building material, furniture, interior and exterior, electric items among others is appealing, specially on the fast growing Gandhinagar-Ahmedabad-Vadodara (GAV) corridor.
Ahmedabad
The Times of India
City's unique upcoming Rs 700-crore venture has caught the eye of a Chinese company. Foshan Meihua Furniture Co Ltd evinced interest for investment into the first-of-its-kind 'Material Mall' being developed in 1 lakh sq yd area in Vastral along the Sardar Patel Ring Road.
"It's not a routine mall. Apart from shops and offices, a large convention centre, an exhibition and display hall for product launches, a luxury hotel and theatre has been planned for this mega venture. Apart from Chinese company, a firm based in France has also shown interest in the project," said Uday Bhatt, chairman of city-based Galaxy Group.
Managing partner of the US $30 million Chinese company Francis Lee said he has been studying the Indian market and is in talks with Galaxy Group for a strategic tie-up. His company provides designer furniture solutions to five-star and above luxury hotels across the globe. Terming the property show an organized effort, Lee said, "It could have been better and bigger aimed at a larger audience if it had been promoted nationally, involving more players."
Lee, a Singapore national, said that the concept of availability of building material, furniture, interior and exterior, electric items among others is appealing, specially on the fast growing Gandhinagar-Ahmedabad-Vadodara (GAV) corridor.
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