Omaxe is planning to invest Rs 400 crore to develop two new commercial projects in Faridabad, Haryana, to expand its business. The two new projects will be part of its 120-acre mixed-use development named 'World Street by Omaxe'.
The first commercial project New Singapore is spread over 11.6 acre, comprising 15 lakh square feet of area largely retail spaces, while the other project Clarkee, covering nearly 2 acre, will be developed as party and nightlife destination. The projects are expected to be completed by 2029. The total estimated cost to build these two projects is over Rs 400 crore and this will be funded through internal accruals. The rates in these two projects range between Rs 4,000 per square feet to Rs 10,000 per square feet.
Omaxe is one of India’s leading and trusted real estate companies. The company is into the business of developing real estate properties for residential, commercial and retail purposes.
