Omaxe leases 10.5 Lakh sq. ft. so far in 2021-22

New Delhi, November 2, 2021: Omaxe Limited leased a cumulative area of 10.53 lakh sq. ft. across its commercial properties in Greater Noida, Faridabad, New Chandigarh, Lucknow, and Amritsar so far in the fiscal year 2021-22.

According to a press release issued by the company, the leased area comprise brands in various categories like retail, hospitality, F&B, entertainment and gaming, services among others thereby providing a lot of vibrancy and product mix in Omaxe’s commercial real estate portfolio for an enhanced footfall.

Commenting on the development, Jatin Goel, Director, Omaxe Ltd. said “With the rapid pace of vaccination and unlocking of the economy, a pent-up demand, bigger than last year, is being witnessed. Mall occupancy has gone up across cities and retail sales have touched 90% of the pre-pandemic levels owing to increased consumer spending.”

Currently, Omaxe has 16 operational commercial properties comprising malls, offices, serviced/studio apartments, and high streets across 10 cities and 4 States of India.

 “We are hopeful that the retailers in our Malls and high street will be able to cash in on the festive season rush and we are making every effort to bring footfall through events, brand mix, and state-of-the-art amenities,”  Goel added.

In Greater Noida, the company has leased 6.77 lakh sq. ft., 2.95 lakh sq. ft. in Lucknow, 58,222 sq. ft. in Faridabad, and 20,000 sq. ft. in Amritsar.

Currently, the company is undertaking the construction of 5 commercial projects in New Chandigarh, Delhi, Lucknow, Ludhiana, and Faridabad.