Crossings Infra to invest Rs 700 cr for commercial projects

NEW DELHI: Real estate firm Crossings Infrastructure plans to invest Rs 700 crore to set up two commercial projects, which would house shopping malls, food-courts and multiplexes, a senior official of the company has said.

The two major commercial projects -- Crossings Galleria and Crossings City Center would come up in the Crossings Republik, the integrated township being constructed by the firm in Noida, Greater Noida and Ghaziabad, Crossings Infrastructure Director Sanjeev Srivastva said.

"The company will raise 35 per cent of the total investment through internal accruals and rest through debt and advances," he added. Crossings City Center would be a mall and commercial hub with about 600 showrooms spread over an area of one million square feet. It would also house food courts, multiplexes, office towers, entertainment zones and hyper markets.

The City Center is expected to be completed within next 24 months.

Crossings Galleria,which is also a shopping destination, would be completed within the next one-and-a-half years, it added.

Crossings Republik is a Rs 6,000-crore integrated city project, which wouldcater to a population of over 1,00,000 residents.