Bharti Walmart Plans Bangalore Cash & Carry Store
Bharti Walmart is reportedly planning to inaugurate a cash & carry store in Bangalore. According to sources, the Indian wing of the notable US-based retail corporation is in advanced talks with Century Real Estate to bring this plan to fruition.
Bharti Walmart plans to set up its first cash and carry store in Bangalore.
Century Group anticipates securing the arrangement with Walmart, with speculations pointing towards the store's establishment on the new airport road. The location in question includes a land parcel owned by Century Group, where the group intends to develop a mixed-use real estate project.
Sources familiar with the details hint that the deal is nearing completion.
Representatives from both Bharti Walmart and Century Real Estate have chosen not to comment on these unfolding developments. Conversely, senior officials at Century Group have acknowledged the ongoing discussions with the retail giant.
It is understood that the group has formalized a term sheet, but the final agreement is still in progress.
Bharti Walmart is in talks with Century group for its first cash and carry store in Bangalore.
Bharti Walmart has been carefully assessing the real estate market for a considerable period. The company manages over twenty stores across the subcontinent under the brand name "Best Price."
Reliance Market recently launched its inaugural Cash & Carry store in Bangalore.
Metro Cash & Carry has established its presence over the past few years. The German-based entity has two stores within this high-tech city, indicating the market's adaptability to the cash & carry store model.
While the establishment of Bharti Walmart's store remains the primary objective, Century Group is contemplating the development of a Residential project as an extension to this project. The real estate firm is raising the fund for the project. Successful completion of the deal would ease funding acquisition as the project moves forward.