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Entertainment World Developers, a reality major, has announced that it will be investing about Rs. 2,000 crore for developing about 20 malls across India. This, the company, added that will be developed under the rent-free revenue sharing concept of the organization and will encourage the emerging brands to open their shops in those malls.
"We will invest Rs.2,000 crore for setting up 20 malls spread across one million square feet in 11 states and 20 cities by 2011," said company chairman and managing director Manish Kalani.
"Around Rs.800 crore will be raised by way of private equity and the remaining will be debt," Kalani added.
The small retailers will be provided space between 15,000 square feet and 50,000 square feet under the mall-in-mall concept called ‘Treasure Showcase’.
"The concept is based on a transparent and pre-determined margin-sharing revenue model. It is very popular globally and we feel it will work here as well," Kalani said.
"Nearly Rs.300 crore will be invested in creating and promoting Treasure Showcase, which would include the cost of real estate”, he added.
