Entertainment City Ltd (ECL), the owner of Great India Place (GIP) in Noida, previously India’s largest shopping mall, has invited expressions of interest (EoI) from interested buyers to fully acquire the company. The bids can be submitted before the closing hours on August 16, 2023.
The sale includes the entire 147 acres area comprising two malls (GIP and Garden Galleria), two theme parks (Worlds of Wonder Water Park and Worlds of Wonder Amusement Park), and an ‘Arrival Village’, apart from a vacant space of 1.7 million sqft for further development potential.
“The shareholders of the company (ECL) have decided on 100 per cent disinvestment of equity stake in the company on as-is-where-is basis and have appointed E&Y as the transaction advisor,” said ECL, while inviting bids from buyers.
The shareholders invite offers/ express of interests for the transaction from the interested investors/ buyers, it added.
GIP Mall: How To Submit Bids
Interested investors/ buyers to submit EoI (expression of interest) via email to the following email IDs before closure of business hours on August 16, 2023.
Email will be sent to [email protected] with CC to [email protected].
Further details of the transaction process shall be notified to the prospective investors/ buyers in response to the EoIs received.
About GIP Mall’s Sale
Great India Place, a commercial-cum-entertainment project, is spread over 147 acres in Noida. The mall, which is close to prime residential areas of Noida and South Delhi, is well connected to Delhi by DND Flyover and two metro stations at walking distance.
“The land was allotted to the company by the Noida Authority on a 90-year lease in the year 2023,” the company said.
The company has a total sanctioned FSI of about 3.6 million sqft including two operational malls (GIP and Garden Galleria), two operational theme parks (Worlds of Wonder Water Park and Worlds of Wonder Amusement Park), and an ‘Arrival Village’ that houses prominent brands in kids entertainment, Go Karting, restaurants and lounge bars.
Apart from this, there is a further development potential of around 1.7 million sqft, according to the company.
“The remaining FSI (floor space index) of about 1.7 million sqft can be utilised for entertainment purposes as per Noida Master Plan 2031, which may include various recreational purposes like sports city, golf course, indoor stadium, drive-in cinema, exhibition centre, theme part, auditorium, film city/ studios, and clubs, etc,” the mall said.
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