Noida, India – Bhutani Infra has acquired the Logix City Center in Sector 32, Noida, for nearly ₹1,000 crore, including anticipated costs for renovations, the company announced on November 11.
As published by the Hindustan Times, the retail property will now be known as Bhutani City Center 32. This acquisition marks a major addition to Bhutani Infra’s growing portfolio and brings together a variety of prime retail, leisure, and entertainment spaces into a single destination.
The company plans significant upgrades to the mall, including the addition of luxury brands and a five-star hotel. These plans are designed to meet the growing demands of high-net-worth individuals (HNIs) who live within a 2-km radius of the property.
“We are not just expanding our portfolio; we are transforming every acquisition into a high-performing asset that addresses the evolving demands of today’s consumers for integrated work, leisure, and lifestyle spaces,” said Ashish Bhutani, CEO of Bhutani Infra. “Bhutani City Center 32 reflects our aggressive growth strategy and commitment to reshaping urban development.”
Noida’s demand for premium, mixed-use developments has surged by 35% over the past year, positioning Bhutani City Center 32 to lead this growth. The development aims to redefine the future of urban living and investment in the region.
A report by Cushman & Wakefield highlighted that retail leasing activity in India reached 1.6 million square feet in the third quarter of 2024, with Hyderabad, Delhi NCR, and Mumbai leading the leasing volume. High streets dominated the retail leasing landscape, accounting for 68% of the total retail space leased. Additionally, high street rentals grew by an average of 15% in this period.