NewsVoir
Ghaziabad (Uttar Pradesh) [India], September 3: Prateek Group has announced plans to develop a 2-lakh sq. ft. high street mall worth approximately INR 500 crore in Siddharth Vihar, Ghaziabad, marking a significant expansion of the Group’s commercial real estate portfolio. The development will follow a 100% lease-based model, with Prateek Group retaining ownership of the asset and generating long-term recurring rental revenues.
Envisioned as a new-age retail, dining and entertainment destination, the project will cater to the rapidly growing residential population of Siddharth Vihar and surrounding markets across NCR.
The project forms part of Prateek Group’s long-term strategy to build a portfolio of annuity-generating commercial assets, complementing its residential development business. By retaining ownership and operating the mall entirely through a leasing model, the Group aims to create a sustainable recurring revenue stream while building long-term value from its commercial portfolio.
The fully lease-based format will also enable Prateek Group to exercise greater control over tenant curation, brand positioning, asset management and the overall consumer experience.
Designed as a comprehensive family and lifestyle destination, the mall will feature a curated mix of national and international brands across fashion, consumer electronics, athleisure, ethnic wear, formal and casual fashion, jewellery, footwear, beauty, accessories and other lifestyle categories.
Entertainment will be a key component of the development, with plans for a state-of-the-art multiplex, dedicated kids’ entertainment and family recreation zones, positioning the project as an experience-led destination extending beyond conventional retail.
The food and beverage portfolio will include quick-service restaurants, cafés, speciality food concepts, premium casual dining, fine-dining restaurants and banquet facilities, creating a strong culinary and social ecosystem within the development.
Strategically located in Siddharth Vihar, the project is expected to benefit from a large and expanding residential catchment across Indirapuram, Crossings Republik, Raj Nagar Extension, Noida, Greater Noida and the NH-24 corridor. Continued residential development and improving connectivity across the region have created growing demand for organised retail, dining and entertainment infrastructure.
Speaking on the announcement, Prashant Tiwari, Chairman, Prateek Group, said, “The INR 500 crore high street mall in Siddharth Vihar is an important part of our strategy to build a strong portfolio of income-generating commercial assets. Our vision is to create a destination that brings together shopping, dining, entertainment and community experiences under one ecosystem. By retaining the asset and following a completely lease-based model, we will be able to curate the right brand mix, maintain high operational standards and create a consistently strong consumer experience while generating sustainable long-term rental revenues.”
The development is also expected to generate economic activity across retail, hospitality and entertainment, create employment opportunities and further strengthen Siddharth Vihar’s emergence as a major residential and commercial destination within NCR.
With a project worth approximately INR 500 crore, a development footprint of around 2 lakh sq. ft. and a 100% lease-based model, Prateek Group aims to establish the project as a landmark organised retail and entertainment destination in Ghaziabad while significantly expanding its portfolio of annuity-generating commercial assets.
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