Trehan IRIS to Open INR 400 Crore Mall in Greater

Trehan IRIS plans to open its INR 400 crore mall, IRIS Broadway Greno West (IBGW), in Greater Noida West between January and March 2027. The company announced this on Wednesday.

Located at the Ek Murti roundabout in Greater Noida West, also known as Noida Extension, the mall spans 3.4 acres with a total area of about 1 million sq ft. Trehan IRIS calls it the first premium mall in the area.

The developer expects shoppers to spend over INR 580 crore in the mall’s first year, rising to about INR 700 crore in the second year. Once fully operational, it’s projected to attract 25,000 to 35,000 daily visitors on weekends and around 15,000 on weekdays.

The mall is strategically positioned opposite a proposed metro station and is well-connected to Noida and Delhi by road. Its design centers around a central atrium envisioned as the area’s town square.

The project also includes the Omega tower, featuring Grade A offices, a business center, a gym, and terrace restaurants. Trehan IRIS expects the office space to draw a weekday crowd to the mall.

Unlike some developments, no shops in the mall will be sold. All space will be leased. Aman Trehan, Executive Director at Trehan IRIS, stated that ground-floor space is leasing for INR 200 to INR 250 per sq ft, while first-floor space is available for INR 150 to INR 180 per sq ft.

This leasing model, a departure from the traditional approach of selling retail units, positions the company to generate steady rental income from tenants. Historically, malls in India have often been sold as individual units to investors. Trehan IRIS aims to create a more controlled retail environment by retaining ownership and leasing out spaces.

The developer anticipates receiving its occupancy certificate soon. This would bring the project to market within four years of its RERA registration in May 2022, a relatively quick timeline for a commercial project of this scale in the Noida region.

Over the first three years, the company plans to increase footfall, strengthen the mall’s brand mix, and host various events, including shopping promotions, dining experiences, entertainment, and community gatherings.