The Phoenix Mill, Ambuja Neotia come together for 3 housing & retail projects
New Delhi: Mumbai based realty player The Phoenix Mill and Ambuja Neotia have come together for 3 housing and retail projects in a largish town ship in Batanagar.
The Phoenix Mill’s wholly owned subsidiary Market City Resources has inked an agreement with Ambuja Neotia for the there projects in the 262-acre township in Batanagar under which the latter will take up the development of two housing projects while Calcutta Riverside will build a shopping centre.
The two housing projects will cover 4 million square feet space in two plots of 10 acres each. The shopping centre will be spread across 4,96,000 square feet.
Market City Resources has inked a ‘property and development management’ agreement with Calcutta Riverside to help it in development and running the operations of the shopping centre with licensed use of Phoenix Mill’s trademark on ‘non-exclusive basis’, Ambuja Neotia said in a statement.