Noida: If you reside in Noida or any other city within Delhi NCR, you surely must be familiar with GIP Mall (The Great India Place) in Noida, which was once the largest mall in the country and a popular destination for weekend evenings. However, disappointing news awaits, as the mall has experienced a decline in visitors, prompting its management to decide to sell it.
Entertainment City Limited, the promoter of The Great India Place, Gardens Galleria Mall, Worlds of Wonder Amusement Park, and Kidzania in Noida, is reportedly preparing to sell the entire 147-acre development; however, the exact selling price remains undisclosed. An official source from the mall, speaking anonymously, stated that due to continuous losses, the promoters have decided to transfer their shares, and interested investors in the market can reach out to the company.
The vacant land can be developed later by the new buyer, offering approximately 1.7 million square feet of development potential for residential or commercial buildings.
GIP Mall, completed in 2007 and once hailed as the largest mall in the country, gained immense popularity in the area for shopping and entertainment. However, its fame declined after the opening of DLF Mall of India opposite it in 2016, resulting in a decrease in visitors and the departure of many companies’ showrooms. The impact of the COVID-19 pandemic further led to the closure of showrooms from several branded companies in the mall.
