Saturday, January 13, 2007

Jamnagar - Reliance Retail Rocks

Reliance Retail will launch its first hypermarket in March in Ahmedabad.

Its hypermarkets, will be called Reliance Mart, will house boutique hotels. Of the company's 1,500 hypermarkets, 30 will come up in Gujarat.

The first hypermarket, earlier scheduled for December at Iscon Mega Mall near SG Highway in the city, will now roll out in the first quarter of next year.

Parimal Nathwani, group president, corporate affairs, Reliance Retail, said: "Our first hypermarket is scheduled to be launched in March on SG Highway."

Sources added that Reliance Retail has purchased 2 lakh sq ft at Iskon Mall in Ahmedabad for Rs 9 crore. The company has paid Rs 7 crore as stamp duty, the highest paid by any construction firm in the state, sources added.

"The refinery in Moti Khawadi is spread over 5 lakh sq ft and will house a hotel and multiplex. The company has roped in foreign architects for this project," a realtor from Jamnagar said.

Besides, Reliance will open retail outlets in Jamnagar, Rajkot, Surat and Bhavnagar as well, sources said. Reliance has also leased 1.25 lakh sq ft at a shopping location in Greater Noida.


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