Rcube Projects Launches Rs 120 Crore Mall In Noida, Targets Rs 30 Crore Annual Rentals

New Delhi: Realty firm Rcube Projects Pvt Ltd expects Rs 25-30 crore rental income annually from its new shopping mall in Noida, Delhi-NCR. The company, which is into developing commercial projects comprising retail and office spaces, has opened 'Rcube Monad Mall' at Sector 43, Noida, Uttar Pradesh. On the new mall, Anuj Malhan, founder at Rcube Projects, said the shopping mall spreads over 2 acres with a total leasable area of 2.5 lakh square feet, including 300 car parking. "We have taken this project from IRCON for a lease period of 27 years," he added.

Rcube Projects has invested Rs 120 crore to develop this mall. Anuj Malhan said that they have already given 90 per cent of the space on lease, and more than 50 per cent has become operational. The mall also has a multiplex MovieMax Edition with a total seating capacity of 200 people. 

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Rcube Projects' new Noida mall to earn Rs 25-30cr.

"We are expecting an annual rent of Rs 25-30 crore from this shopping mall," Anuj Malhan said about the rental income and noted that Lifestyle has taken on lease 45,000 sq ft retail space in this mall.

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On the company's other properties, Anuj Malhan said the company has a 1.5 lakh square feet shopping mall at Rajouri Garden in Delhi. The annual rental income from this mall is around Rs 18 crore. Besides, Rcube Projects has a 3 lakh sq ft commercial project, largely office space, at Shivaji Stadium Metro Station. Involved in the real estate business for the last 15 years, the company has developed commercial spaces across 23 metro stations. The company's total portfolio is 15 lakh square feet.

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About the demand for retail spaces, Anuj Malhan said there is a huge requirement for Grade A spaces in Delhi-NCR, and the company is looking to expand its portfolio to cater to this. "Food & beverages and entertainment are doing exceptionally well in shopping malls," he added.