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Tuesday, 14 June 2011 |
Wholesale trading markets on the lines of Dubai’s Dragon Mart
and China’s Yiwu wholesale market will be set up in Indian cities over the next few years. This will be done jointly by Agre Developers and the Sattva group. Agre Developers is a Future Group company which was earlier known as Future Mall Management. Sattva is a Bangalore-based developer. These trading hubs will stock general merchandise, IT peripherals, hardware products along with other commodities typically spread across a 5 to 10 acre space. The company will look to plough about Rs 500 crores of equity across the three formats and is evaluating the possibility of inviting strategic partners into each of these businesses. The total outlay on the three business verticals will be around Rs 3,500 crores over the next five years.
Demerged from Pantaloon Retail with effect from April 1, 2010, Agre was listed on BSE and NSE on December 31, 2010. Agre means moving forward. Through retail-led real estate developments and asset management, Agre integrates operational as well as retail-specific aspects throughout an asset’s lifespan. In collaboration with Future Supply Chain Solutions, Agre aims to setup infra-logistics parks across the country. To balance supply constraints, Agre aims to set up modernized wholesale markets across major cities and other market-centric locations across the country. Sattva is a multi-diversified group that is into real estate development, special economic zone development, infrastructure, township development, facilities management, and aero accessories business. |
