Saya Homes to invest Rs 200 crore in new shopping mall in Noida

NEW DELHI: Realty firm Saya Homes on Sunday said it will invest around Rs 200 crore over
the next two years to develop a shopping mall in Noida as the company expects retail sector to
bounce back post-COVID-19. The company will develop 2 lakh square feet area in this 1.7 acre
project named ‘Saya Piazza’.
“We are coming up with a shopping centre in Noida. We have acquired a plot in Jaypee
township,” Saya Homes Managing Director Vikas Bhasin said.
The company will sell the retail space in this project but has kept the leasing rights with itself.

Saya Homes on Sunday started the construction work of this project with ground breaking
ceremony at the project site.
Asked about investment, Saya Homes Director Manoj Jain said the total project cost is
estimated at around Rs 200 crore. The project is expected to be completed in the next two
years.
Jain said the retail sector, which was badly impacted due to first and the second wave of the
COVID pandemic, has been gradually recovering.
“There are not many retail projects on Noida Expressway. We expect a great response for our
project from investors as it will cater to a large population in Jaypee township,” Jain said.
Saya Homes has delivered nearly 6 million square feet area in multiple projects across
the Delhi-NCR market. At present, it is developing few residential and commercial projects at
Noida, Greater Noida and Ghaziabad in Uttar Pradesh