Kolkata-based real estate company Avani Group is to foray into retail business by December, a senior executive said.
The Group, which is in the construction business for the last 20 years, is in talks with a few leading brands, the official said.
The Group also announced the launch of its ‘Riverside Mall, spread over six lakh sq ft area, on the bank of the river Hooghly in Howrah district of West Bengal. The mall will host a number of leading brands.
The company claimed that the mall is the first-ever green mall in the eastern region as most of the material used in the building is eco-friendly.
On the Group’s foray into the retail segment, Avani Riverside Mall COO Subir Das said talks with the brands were in an “advanced stage”.
“As we are a developer, we will run franchises of some leading brands which are currently not present in the region. We will enter into retail business this December,” Das said.
He, however, declined to divulge details of the discussions.
Das said that setting up of two or three new malls in the eastern region was in the pipeline.
“In Bhubaneswar we will build a residential-cum-commercial project,” he added.
