Bhumika Realty leases 24,000 sq ft retail space to Lifestyle in Faridabad

Bhumika Realty has leased 24,000 sq ft retail space to fashion brand Lifestyle at its under-construction project in Faridabad.

In a statement on Thursday, the company said Lifestyle will open a 24,000 sq ft anchor store at its mixed-use project 'The Icon'.

Part of the Dubai-based Landmark Group, Lifestyle has more than 75 stores across 44 cities.


Uddhav Poddar, CMD of Bhumika Group, said, "Faridabad is evolving into an important consumption and retail market within the NCR, with consumers increasingly looking for leading brands and quality experiences closer to home."

The project will also have a 25,000 sq ft multi-screen multiplex by PVR INOX.

Earlier this year, Bhumika Realty raised Rs 170 crore from a real estate credit platform of Aditya Birla Sun Life AMC and BGO to fund this mixed-use project in Faridabad. The construction of the project started in March.

Commenting on the deal, Shriram PM Monga, Co-Founder and Principal of retail consultancy firm SRED Global, said, "Faridabad is emerging as an important retail market within the wider NCR, driven by improving connectivity, rising consumer aspirations and growing demand for quality retail spaces."

The leasing of 24,000 sq ft by Lifestyle is a reflection of the increasing interest of established brands in the city's organised retail market, he added.

Bhumika Realty is the real estate arm of Bhumika Group, with a portfolio spanning retail, commercial, hospitality and residential developments.