Key tenants of Magneto Mall, Raipur, which is under construction, are set to start trading by 12th December 2009. The 10.35 lakh square feet property is being constructed by Avinash Developers Pvt. Ltd. (ADPL), a part of the Raipur-based Avinash Group.
Magneto is a multi-faceted development coming up on NH 6, Labhandi G.E. Road, Raipur. ‘Magneto Haat’, one of its salient features, will provide a huge space for local and regional retail players to display their merchandise. The mall will be located at a distance of 4.5 km from the heart of the city and its visitors will have a mixed experience of world-class shopping arcade, a 12,292 square feet food court, entertainment zones, etc.
Referring to Magneto Mall discarding the conventional rental format and entering into the revenue sharing agreements with the retailers, Sanjay Prabhu, COO, ADPL said, “All the retailers are willing to share their store sales figure with us, which is a win-win situation for both of us for mutual growth.”
The stores that are scheduled to begin trading next month include Westside, Bikano Chat Cafe, Ten Downing Street, Time zone, Lee/Wrangler, Cafe Coffee Day, Maruti Suzuki, Candy Treat, Ali Bhai-Confectioneries and PVR, confirmed Prabhu.
“Westside and PVR will be the anchor tenants of this mall,” Prabhu confirmed.