West Pioneer Properties Ltd. (WPR.LN), a developer and operator of shopping malls in west and southern India, said Monday it remains confident that the Metro Junction mall in Kalyan will be substantially leased by March 2010.

MAIN FACTS:

-The Indian retail sector is now showing signs of recovery, with expansion plans of many of the larger players being revived.

-Metro Junction mall now at 65% up from 52% in May.

-The total area leased is now 328,686 sq ft.

-Footfalls for the period from June to September have shown a year-on-year increase of 30%, whilst two wheeler and four wheeler traffic has increased by 31% and 18% respectively.

-Very good response to the residential project at Kalyan with 73% of the apartments in Tower A having been pre-sold.

-Just started marketing the first 80 apartments in Tower B and to date eight apartments have been sold in this tower.

-Ground break is scheduled for December.

-Development plan for Nashik has now been updated and will comprise a 300,000 sq ft shopping centre and a 200 room 3/4 star hotel which will be managed by the Intercontinental Hotels Group (IHG).

-Additionally, the feasibility of a residential project is also being studied.

-Agreement with IHG for the Hotel is already in place and discussions with them regarding design are in progress.

-Permissions for the retail and hotel projects are also in progress.

-Development in Aurangabad will follow Nashik.

 
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
West Pioneer (LSE:WPR)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024 Plus de graphiques de la Bourse West Pioneer
West Pioneer (LSE:WPR)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024 Plus de graphiques de la Bourse West Pioneer