Realty firm Nirala World will invest Rs 525 crore to develop a shopping mall project in Greater Noida as part of its expansion plan.

In a statement, the company said it will build a premium mall ‘Nirala Diadem’ on 2.5 acre land, PTI reported.

Nirala World has invested Rs 175 crore for land acquisition while Rs 350 crore will be infused for construction, it added.

The project will be completed early 2030.

Suresh Garg, CMD of Nirala World, said there is a strong demand for retail spaces in Greater Noida.

Since its inception in 1996, Nirala World has delivered more than 7,000 residential units.

The company has delivered a 25-acre residential project ‘Nirala Estate’ in Greater Noida West comprising around 4,000 homes.

It is constructing nearly 400 units in another housing project. It is also building a commercial project ‘Nirala Gateway’ comprising retail and office spaces as well as studio apartments.