Virtuous Retail, retail shopping malls owned by Singapore-based global investment firm Xander Group, will soon become global.
In an interaction with Deccan Herald, Xander Group founder and chairman of the investment committee Siddharth Yog said that the company has already received queries from stakeholders to expand the portfolio division.
“We have received queries from Latin American and African countries. We will be holding discussion with developers of these countries in a couple of months,” Yog said.
He said that Virtuous Retail malls provide a different experience to visitors. “We have accommodated everything —boutique hotel, recreation, dwelling place and co-working space — at the facility. Each of our facility is transformed into a community centre and it will integrate the aspiration of those society,” he said.
Launched in 2007, Virtuous Retail has a commitment to build $5 million sq feet retail space across six cities. The company has so far launched its malls in Surat and Bengaluru. It is also completing projects in Chennai, Pune and Kolkata. One more project in Bengaluru is on the cards. These projects will be commissioned from 2017 onwards.
“Virtuous Retail can compete with any world-class facility. Besides community experience, we have succeeded in bringing on board the past, present and future growth of each city where we are present,” he said, adding they have an integrated community work space.
Since its foray into India in 2005, Xander Group has invested $2 billion in various realty assets including residential, office space, warehousing and hospitality.
DH News Service
“We find big opportunity in investment in India since other part of the world is going through turbulent phases. Since we are an institutional investor, Xander is looking at a sophisticated investment bouquet, with multiple investment. Residential and retail will be high on our investment in India,” he said.
Besides establishing a non banking financial (NBFC) institution, Xander Finance, the company is also involved in angel investment.