Bhumika Realty leases 24,000 sq ft retail space to Lifestyle in Faridabad

Bhumika Realty has finalized a significant long-term lease with retail giant Lifestyle for its forthcoming Urban Square Mall in Faridabad, marking a key milestone in the project's development. The agreement secures 24,000 square feet of prime retail space for the Landmark Group-owned brand for a 15-year term.

This deal strengthens the mall's position as a future retail hub in the National Capital Region (NCR). Lifestyle joins an expanding list of confirmed tenants that includes other major anchors like Shoppers Stop, which has leased 42,000 square feet, and a six-screen INOX multiplex. The addition of these established brands is expected to drive significant footfall and attract other high-profile retailers.

Project and Leasing Momentum

The Urban Square Mall in Faridabad's Sector 92 is a large-scale, 1 million square foot mixed-use development. Beyond its retail component, the project will also feature a five-star hotel and serviced apartments. This development is Bhumika Realty's second major project under the 'Urban Square' brand, following its successful venture in Udaipur.

Company leadership noted that out of a total leasable area of 500,000 square feet, approximately 200,000 square feet has already been leased. This demonstrates strong market interest in the project ahead of its completion.

Faridabad's Evolving Retail Landscape

The commitment from national players like Lifestyle and Shoppers Stop underscores growing investor confidence in Faridabad's commercial real estate sector. By securing prominent anchor tenants, Bhumika Realty is positioning the mall to become a comprehensive destination for shopping, entertainment, and lifestyle activities. The project aims to cater to the underserved retail needs of the local population and surrounding areas.

Future Outlook

With major tenants secured and significant leasing progress, the Urban Square Mall is on a solid trajectory. The developer, a part of the Poddar Group, continues to expand its portfolio with other projects in development across Rajasthan, including in Jodhpur and Jaipur. The successful execution of the Faridabad project will be crucial for the company's expansion strategy within the competitive NCR market.