Phoenix mills eyeing key retail space - Feedback

Retail-led mixed-use asset developer and operator The Phoenix Mills is looking to double its operational retail portfolio to around 12 million sq ft over the next 4-5 years from the current 5.9 million sq ft.

The company is eyeing acquisition opportunities judiciously in key property markets across India to support its targeted growth, said a top company official.“We generate strong free cash flows from our retail assets and growing commercial office portfolio, and will aim to strategically deploy the internal accruals towards select greenfield and brownfield retail-led mixed use developments in select key cities of India such as Kolkata, Chandigarh, Hyderabad and Mumbai, amongst others,” Shishir Shrivastava, joint managing director, The Phoenix Mills, told ET.Over the past 18 months, the company has already made five acquisitions, including three land parcels in Pune, Bengaluru and Ahmedabad and two under-construction retail assets in Lucknow and Indore.

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