Singapore's Mustafa in race for mega mall in Hyderabad

 Considered to be an aggressive retailer on a value -for-money proposition with an estimated annual sales of $ 300 million, Mustafa is one of the 24 contenders for the Urban Entertainment Centre project proposed to be developed on a 4.91-acre site at Basheerbagh. Located in the heart of the city, the site was till recently the premises of Gandhi Medical College.

 The state government has decided to develop the Urban Entertainment Centre on this site under public-private partnership. The site will be made availabe to the successful bidders on a 33-year lease to develop the project with an investment of Rs 100 crore.

 The project will have a built-up area of 5 lakh sft and a minimum 50 per cent of that would be shopping mall, while the rest of the space will be allocated for leisure and entertainment activities.

 Mustafa, along with other contenders, has submitted the expression of interest for the project, and through his consultant, participated in the pre-bid conference held earlier this month.

 The last date for submission of request for qualification, technical bid and price bid is December 10. The preferred bidder is expected to be finalised by December-end or in the first week of January.