Mr. Jatin Goel, Executive Director, Omaxe Group
Faridabad was Delhi’s earliest suburb. But as the pace of development gathered speed, the city was soon overtaken by cities like Gurugram and Noida. However, the clock has turned full circle. With the increasing rise in connectivity, Faridabad is emerging again to secure its pre-eminent position. What could be a better manifestation of this transformation than the world’s leading multinational brands making a beeline to open their marquee stores in the city.
Faridabad’s Rise in the Kearney Index
The Kearney Index, which gauges the performance of the top 20 cities in India in various aspects of retail, highlights Faridabad’s substantial improvement in recent years. In 2023, Faridabad’s ranking improved from its position in 2021 and secured 13th position in the country, showcasing its growing retail prowess. Factors contributing to this improvement include enhanced ease of business, power brands’ presence, and a burgeoning population. Proximity to the airport and seamless connectivity with the national capital further solidify Faridabad’s status as a retail hub. The only other city to feature in this list is Gurugram.
Infrastructure and Connectivity
Improved infrastructure and connectivity have played pivotal roles in Faridabad’s resurgence. The construction of the Faridabad-Noida-Ghaziabad (FNG) Expressway and the Eastern Peripheral Expressway (EPE) has significantly reduced travel times and improved accessibility. The KGP Expressway and the Manjhawali Bridge have further bolstered connectivity, positioning Faridabad as a modern and accessible hub within the NCR. Moreover, the Delhi-Mumbai Expressway passing through Faridabad, slated to be operational in the next six months, has imparted an edge to the city’s connectivity. Further, improvement in the road network has taken away the thing that was the city’s bane, that is traffic jams. All this has augured well for Faridabad and taken the sheen away from Noida and Gurugram for the city’s residents.
The Impact on Faridabad’s Retail Landscape
The arrival of international brands in Faridabad signifies a significant departure from the past when the absence of such brands was conspicuous. As a result, people desirous of shopping for such brands had to go either to Noida or Gurugram. Omaxe World Street’s ability to attract these prestigious names has set Faridabad apart from its neighbours, Noida and Gurugram. Faridabad is no longer merely replicating the shopping experiences of its neighbours; it is creating its unique identity as a destination that combines international ambience with the city’s distinctive charm.
Spending Power and Job Market
Faridabad’s thriving job market, driven by industrial growth and the emergence of technology hubs, has substantially increased its residents’ spending power and enhanced its value proposition. As a result, the demand for high-quality retail experiences and international brands, once the preserve of Noida and Gurugram, has never been higher.
Omaxe World Street Sprawling Retail Space – A Hub of International Brands
A notable development in Faridabad’s retail landscape is the Omaxe World Street’s retail district. Designed by the renowned planner and architect Dyer from London, this vast retail area is a modern-day marvel that draws inspiration from iconic global streets. Part of the expansive Central Business District (CBD) of Faridabad, Omaxe World Street is India’s first shopping city and an umbrella retail project of immense proportion, in which an ultra-luxury mall, the biggest in Faridabad, will also come up. Omaxe Word Street also epitomizes international sophistication and brings the essence of renowned global shopping streets to Faridabad. It has become a magnet for leading international brands eager to establish their presence in the city.
Faridabad has witnessed a remarkable resurgence in its retail landscape, attracting multinational brands and becoming a thriving retail destination in the NCR. With improved infrastructure, connectivity, and Omaxe World Street Sprawling Retail Space, the city is well-positioned to offer residents an international shopping experience without the need to travel to neighbouring cities. Faridabad’s journey to becoming a global metropolis is in full swing. Omaxe World Street plays a pivotal role in reshaping the city’s shopping and lifestyle landscape, offering residents an opportunity to embrace an international way of life right in their backyard. As the clock turns full circle, Faridabad is again securing its pre-eminent position on the retail map.