The company has also planned hypermarkets - the 'all you want' kind of stores. For one such store alone, Reliance has leased at a shopping location being developed by Omaxe Constructions at Greater Noida. Omaxe boss Rohtas Goel said Reliance has leased 1.25 lakh square feet at the site, but declined to reveal the financial details.
Sources added that Reliance Retail has purchased 2 lakh square feet at Iskon Mall in Ahmedabad for a total cost of Rs 97 crore. The site will also be used for a hypermarket and is expected to be operational by January, 2007. At Jamnagar, a location which is dominated by Reliance Industries, the retail operation has purchased 4-5 acres of land for a standalone store. In Rajkot, Reliance Retail has purchased 2.5 acres, at an estimated cost of Rs 20-25 crore.
Sources added that this is just the tip of the iceberg and many more such deals will be revealed in the coming days.
