The Economic Times reports that Reliance has formed an agreement with Ansal Properties and Infrastructure (APIL) to take anchor spaces in malls developed by the company. Sources indicate that the first of these deals has already been signed for malls in Greater Noida, Palam Vihar and Gurgaon. So far, Shoppers’ Stop has always been the anchor tenants of most Ansal malls.
APIL had recently announced its plans to build 18 new malls, mostly located in tier II and tier III cities and with Reliance Retail focusing on smaller towns too, it’s a perfect arrangement.
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