New Delhi: Realty firm Omaxe on Friday said it has leased 2 lakh sq ft of retail space to Chinese companies in its commercial project at Greater Noida.
The leasing deal was signed after a Chinese delegation comprising around 50 manufacturing and investment firms today visited Omaxe's project at Greater Noida.
"Omaxe will develop the leased 2 lakh sq ft as 'Dragon Mart' for Chinese companies that will open and run retail outlets, offices, representative offices, exhibition centres and other such facilities," Omaxe said in a statement.
The retail space was leased to Giant Centre, part of Floret International Ventures.
Gurgaon-based Floret is a leading international trade consultant and service provider in the specialised market of China and India.
"We have leased 2 lakh sq ft of retail space to Giant Centre, which will further sub-lease to Chinese companies," Omaxe CEO Mohit Goel said.
"Chinese companies would showcase their products in our shopping mall. The interested buyers would be able to test the sample products and place orders here," he added.
The space would be leased at about Rs 40 per sq ft.
The project 'Omaxe Connaught Place', with 1.9 million sq ft of area, has about 1.2 million sq ft of retail space.
In the remaining area, the company is developing office space and hotel.
The retail portion would be ready for fit-outs in the next two months.
"Dragon Mart will be a hub of Chinese manufacturers and retailers exploring and selling their products on both B2B and B2C platform.
"It will also open avenues for Indian manufacturers and suppliers to access their products and services. This will also help bridge the growing distrust in Chinese products that face the challenge of quality, after-sales service and warranty," the statement added.
