Bhutani acquires Logix City Center in Noida for Rs 1,000 crore

18 Nov 2024 CW Team

Bhutani Group, a prominent Noida-based real estate developer, has acquired Logix City Center, a 1.2 million sq ft mixed-use asset comprising retail, office, and hospitality spaces, for nearly Rs 1,000 crore. The acquisition includes an operational asset and a 600,000 sq ft land parcel, which holds development potential for a prime residential project. The deal involved multiple lenders, making it a complex transaction.

This acquisition follows Bhutani Group’s earlier purchase of three projects from Logix Group in Noida. The company is also expanding its portfolio with strategic developments, including the recent bid win for the Film City near the upcoming Jewar airport in Uttar Pradesh. Bhutani Group has also secured a majority stake in WTC Noida, a company licensed to develop 13 World Trade Centers across India, with a revenue-sharing deal aimed at completing stalled projects.

Ashish Bhutani, CEO of Bhutani Infra, highlighted the company’s aggressive growth strategy, focusing on transforming acquisitions into high-performing assets that cater to the evolving demands for integrated work, leisure, and lifestyle spaces.

In addition to real estate acquisitions, Bhutani Group is focused on the development of key infrastructure projects, including the planned Film City, which will boost the film industry in Uttar Pradesh, with an estimated Rs 1,510 crore investment in the first phase.

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