By IANS
Ahmedabad : The Ganesh Housing Corp Ltd, Ahmedabad-based realty firm, is investing close to Rs.110 billion in constructing malls in five prominent locations in the city.
In a communication to the Bombay Stock Exchange, the company has said it has identified five properties in Paldi, Ambawadi, Thaltej-SAL Road, S.G. Road and Sola areas. All the locations are in the heart of the city.
The malls would have 75,000 to 1,00,000 sq. ft. of space each. Work is expected to start in 2009. Construction is expected to be completed by 2012.
Shekhar Patel, managing director of the company, said the project is being taken up as there were positive inquiries for space on lease from at least four parties which are contemplating to make a foray into retail.
“We will construct the complexes and lease them out to parties,” Shekar Patel told IANS.
Starting in the business by building residences, the company in the past three years diversified into construction of an IT SEZ and an integrated township.