With more brands coming in, World Street – a high street project of Omaxe in Sector 79, Faridabad — is on a growth spree and has witnessed the leasing activity of over one lakh sq ft in 11 months of the fiscal year 2022 at 1.14 lakh sq. ft.
Various local, domestic and international brands from apparel, footwear, and consumer electronics to restaurants, entertainment zones etc. have opened their stores in this project. The architecture and ambience are inspired by renowned shopping street around the world. With over 250 operational stores at World Street, one would be intrigued to explore the wide range of brands available under one roof.
Commenting on the same, Jatin Goel, Director, Omaxe Ltd, said, “We are excited to see the response received by World Street. It is one-of-a-kind project in Delhi-NCR. The presence of various national and international brands reflects the growing interest of occupiers and shoppers. Faridabad is gaining popularity with corporates and businesses and we will strive to create a diversified and enriched shopping experience that further enhances World Street’s prominence amongst them.”
The varied options of shopping, dining, and entertainment available at World Street clubbed with its aesthetically designed architecture is a key to drawing shoppers and occupiers’ interest in it. Brands like Red Tape, Super 99, The Old Delhi, NumerUno, Subway, Bistro 57, BULL RIDE (entertainment zone), Theobroma, and others have already opened their stores at World Street.
The theme-based project is designed and developed to create shopping and recreational experiences offered at par of a foreign land. Its architecture and ambiance are inspired by the world-renowned shopping destinations of London, Hong Kong, Portugal, Athens, and Amsterdam. The walk-and-shop concept along with restricted vehicle movement offer a serene and comfortable environment for shopping. Various films, music videos etc. have also been shot here. Young and old also engage in photography. The average footfall per day is around 15,000, according to the company.
The retail sector has made a robust comeback post-Covid downfall. According to an industry report, absorption across Grade A malls and high streets in 2021 has doubled to 3.2 million sq ft compared to 1.5 million sq ft taken up in 2020. The leasing activity grew by almost 250% q-o-q in Q4 2021 across Grade A malls and high streets.
Omaxe is currently undertaking the construction of 23 real estate projects – 4 Group Housing, 14 Townships, and 5 Commercial Malls/office spaces/Hotels/ SCOs.