Bharti Walmart has entered into final talks with Bangalore based Century group for starting up its first cash and carry store in Bangalore.
Century Group is on the verge of gaining a windfall. The group, entering into final-round talks with Bharti Walmart, has made it sure that the group will clinch the deal with the retail major.
Bangalore has become the pick of the hour for cash & carry stores. Now there are many such stores in the city.
The German retail brand Metro Cash & Carry is one of them. Their stores are operational in the city for more than some couple of years.
Indian retail major Reliance Market too has recently launched its stores here. Now the city has become more sensitive to this kind of stores.
Seeing this upcoming trend in the city, Bharti Walmart has decided to launch their first store here. The retail major has now plans to launch its first store in the high tech city on the new airport road.
Century Group has land parcel in this area. This makes them more favorite for the retail major.
If the deal turns good, both Bharti Walmart and Century Group will benefit. Though details of the deal are not yet publicized by any of them, some sources with direct knowledge said that the deal is on the final stage.
Century Real Estate Holdings owns huge land bank in the city. This is considered as a benefit for the group.
When contacted for comment, officials of both the groups did not respond. They declined to comment. Senior officials of Century Group concluded the comments by saying that the deal is likely to be finalized soon.
The Bangalore based group is reported to have signed the term of the deal. Yet, it has not been finalized. Discussions are still on the move. The developer hopes that the deal will come on their way.
