News: Vatika Group leases 50,000 sq ft to Decathlon in New Gurugram
The retail project to be constructed on a ‘built-to-suit’ format with the total investment of Rs 620 crore
Delhi-NCR based Vatika Group has leased approximately 50,000 sq ft to French sporting goods retailer Decathlon for a flagship store in New Gurugram, the company said.
Located at the junction of the Dwarka Expressway and National Highway - 48 (NH 48), Shopper’s Village INXT, the retail project, will cater to nearly 4.5 lakh population in its vicinity, besides direct catchment from NH 48, it said in a statement.
The area is part of the mega Vatika India Next township, the project will be constructed on a ‘built-to-suit’ format in two phases with an investment of Rs 620 crore. The project will have 1.2 million sq ft of leasable area and the first phase of 5 lakh sq ft will be ready by September 2022, it added.
"We are proud to partner with Decathlon for their flagship store in New Gurugram. Taking forward our conviction of delivering new and exciting destinations, we have introduced Shopper’s Village INXT," said Alok Mehta, Head Product Strategy, Vatika.
"The project draws inspiration from similar developments across the world, that have become sought after retail destinations such as Bicester Village, London, and Xintiandi, Shanghai; while also enriching the overall urban fabric in their surroundings," Mehta added.
Spread across 1.2 million sq ft the project has a 500 ft wide direct access from the highway. It also enjoys toll-free access from SPR, Sohna Road and the Golf Course Extension Road. The upcoming RRTS metro corridor is also expected to improve connectivity to the neighbourhood and beyond.
