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Ircon International to lease out commercial and retail space

Monday, 05 Apr 2021
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Ircon International has invited bids to lease out a mall in Noida, Uttar Pradesh. The public sector unit is also looking to rent out another 2,00,000 sq ft retail and office space.

Delhi’s Select Citywalk was selected as a successful bidder in March 2020 to operate the mall but the bid was cancelled due to COVID-19 outbreak.

The company has kept the bidding price at Rs 308 per sq ft for the asset, which is spread over 66,000 sq ft in Noida, and reduced the upfront payment to Rs 25 crore.

The company is also in the process of leasing out 1,00,000 sq ft office space in Sector 32, Gurugram, Haryana, along with 40,000 sq ft office-cum-retail space in Sector 48, Noida.

Ircon International will award one project to one company, which will sublease space in the project.

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