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Bhutani Infra Acquires Noida's Logix City Center for ₹1,000 Crore

Bhutani Infra has made a strategic acquisition of the Logix City Center in Noida’s Sector 32 for nearly ₹1,000 crore, including renovation costs. The company announced the deal on November 11, marking a significant addition to its growing portfolio.

Bhutani Infra Acquires Logix City Center, Noida for ₹1,000 Crore
Bhutani Infra Acquires Logix City Center, Noida for ₹1,000 Crore

The retail hub will be rebranded as Bhutani City Center 32. Bhutani Infra plans to revamp the property, which will now host luxury brands and a 5-star hotel to cater to the high-net-worth individuals (HNIs) in the vicinity, within a 2 km radius.

In a statement, Ashish Bhutani, CEO of Bhutani Infra, highlighted that the acquisition aligns with the company’s growth strategy, emphasizing the creation of integrated spaces for work, leisure, and lifestyle. He further stated that the demand for premium, mixed-use developments in Noida has surged by 35% over the past year, positioning the new project to capitalize on this growth.

With this acquisition, Bhutani Infra aims to reshape urban development by transforming the property into a high-performing asset that meets the changing demands of modern consumers. The company sees the revamped Bhutani City Center 32 as a key player in the region’s future urban landscape.

This move comes amid a broader retail growth trend in India, with Hyderabad, Delhi NCR, and Mumbai leading in retail leasing activity, as reported by Cushman & Wakefield. Notably, high-street leasing dominated the retail landscape, accounting for 68% of the total leased space in Q3 2024, with rental growth recorded at 15% year-on-year.

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