| EXCL: Reliance Mart signs deals for 50mn sq.ft |
| Ravi Menon / Chennai August 13, 2007 |
| Reliance Mart, the hypermarket arm of Reliance Retail, a division of Reliance Industries, is sewing up real estate deals at a furious pace. Market sources said the company has, over the last six months, inked deals covering over 50 million square feet via franchisee as well as direct routes. Reliance Mart has set a target of 100 million square feet of space by 2011. While Reliance Mart's first outlet is opening in Ahmedabad on Wednesday to coincide with the 60th Independence Day celebrations, the second and third hypermarkets are set to open in September this year at Jamnagar in Gujarat and Gurgaon in Haryana. The Jamnagar facility is currently on schedule to open in the first week of September, sources said, adding both hypermarkets would cover areas ranging between 1,65,000-2,00,000 square feet. |
