Delhi-NCR based real estate developer Vatika Group has leased approximately 50,000 sq feet of area to French sporting goods retailer Decathlon for a flagship store in New Gurugram.
The company in its statement issued said that “The area is a part of mega Vatika India Next township project, 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.”
“The project will be constructed in ‘built-to-suit’ format in two phases with an investment of Rs 620 crore and 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,” the statement reads.
Speaking on the developments Alok Mehta, Head of Product Strategy, Vatika, said, “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.”
“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 enriching the overall urban fabric in their surroundings,” Alok added.
