Noida, Greater Noida to get new malls, Lulu Group to invest Rs 2500 crore

Noida will soon have a new place to hang out and shop. After establishing the largest mall in Lucknow, Lulu Group is now targeting Greater Noida and Noida to make new malls. As per reports, Noida Authority has signed an agreement with the Lulu Group regarding an investment Lulu Group will incur Rs 2500 crore in the city. They have received land in the Greater Noida area for construction. 

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Lulu Group, a food-processing giant, wanted a significant area of land from the Noida Authority. The company earlier also had a meeting with Ritu Maheshwari, CEO. They expressed their desire to build a world-class mall in India. With this, around 6,000 people will get jobs. As per Tricity, this will be the second-largest investment made by the Lulu Group in Greater Noida. 

Currently, they are building a food park in Ecotech-10 with a cost of Rs 500 crore, the size of the food park will be 20 acres. From this, 1700 people will get jobs. This will help the farmers to sell their product i.e vegetables at a reasonable price. Plus, Lulu Group is aiming to sell the product in Middle-east. 

If the Noida authority approves the mall’s opportunity in Noida and Greater Noida, then the city will see an investment of Rs 4500 crore. Earlier, the UAE-based group asked for the land of 50,000 square metres in the area for the construction of supermarkets and malls. The land has been demanded around Noida-Greater Noida Expressway. The net worth of the company is 8 billion dollars. They are known for making world-class malls around the world with amazing interiors and a palace with high-class brands and food options. After making a successful mall in Lucknow, the company is hoping to expand its reach in the country.