Euronext-listed Yatra Capital will invest ¤6.75 million (nearly Rs 37.86 crore) in a joint venture (JV) with Ahmedabad-based Modi Build-Well. The JV will develop a 5.90 lakh sq feet shopping mall in Bhavnagar. Modi Build-Well (MBL) is a subsidiary of the Himalaya Group based in Ahmedabad.
Approximately 30 per cent of the shopping mall has already been pre-leased to leading retail brands including Pantaloons, Globus, Big Bazaar and Adlabs, a release from the company said.
The current investment is fifth among the company’s Indian investments with other being investment in properties in Pune, Nasik and others. Following this, Yatra has invested euro79.32 million of the euro100 million that it raised in December 2006.
Read more in The Business Standard article.
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