Newstrack

MBD group to expand through mixed-use development

Sanjeev Bhar - New Delhi

Delhi-based MBD Group plans to expand through mixed-use projects to establish its two brands. It will expand through Neopolis as premium mixed-use development and Zephyr as luxury in metros and tier II cities.

Revealing this was Sonica Malhotra, the group's executive director, who said, "MBD's plan includes Delhi, Mumbai, Hyderabad, Goa and Chennai for the time being. We are also planning to take MBD Neopolis to tier II cities as the concept is well accepted. Its development in Ludhiana shall be the first to get the five-star hotel, The Radisson Hotel MBD and also the first to get premium and luxury retail into the town." She reaffirmed that the MBD Group of hotels is and shall continue to be a hotel ownership and management company operating in the first class five-star and luxury hotel segments.

The Ludhiana project offers a wide brand mix. With 90 per cent of the development already leased out, being the first mover, is giving the project an edge. "It is the first to get the only international anchor tenant brand operating in India - Debenhams from UK - into Punjab. The development is also the first to introduce luxury retail into Punjab," added Malhotra.

According to her, replicating this model in tier II cities would be feasible as they offer high disposable incomes. "However, considering the positioning of MBD Neopolis, expansion will post a detail market gap analysis," she said. The company restrained from mentioning the time frame and monetary details associated with the future projects.