Entertainment World Developers Private Limited (EWDPL) is set to inaugurate its first convenience mall Treasure Bazaar in Nanded, Maharashtra on January 23, 2010. The mall is 100 per cent leased out. Talking exclusively with IndiaRetailing on its occupancy level, Kush Medhora, chief operating officer, EWDPL said, “Treasure Bazaar, Nanded is 100 per cent leased out. However, the present occupancy level is 80 per cent and the rest of the tenants will start their operation shortly.”
Treasure Bazaar will be Nanded’s first mall in the city to offer over 30 brands including Big Bazaar, Next, Fashion Yatra, Max, Archies Gallery, Cotton Cottage, Basics Life, Maya Jewellery, Integrity, Lawman Pg3, Benetton, Lilliput, Peppermint, Reebok, Rosebys, Bata, Mufti, Offbeat, Van Heusen, Levi’s, Spykar Jeans, Killer, Provogue, Hello Point, Allen Solly, Adidas, Dinshaw’s Ice Cream and many others.
Treasure Bazaar, Nanded is the first convenience mall of EWDPL in India, which is spread over an area of 3,00,000 square feet. The property is set to offer 4-screen multiplex, a 56-room 3 star hotel and a food court. “Our first mall — Treasure Island, Indore — spans 4,16,000 square feet of gross leasable area (GLA) followed by Treasure Indore Central Mall, Indore covering 2,75,000 square feet (GLA). Our third mall, Treasure Bazaar in Nanded, is our first convenience mall to open in an emerging city of India covering 2,43,000 square feet (GLA),” confirmed Medhora.
He further added, “Fun Republic will be operating the 4-screen multiplex with an estimated capacity of 1000 seats.” Commenting on the 3-star hotel, which is set to open in Treasure Bazaar, Medhora said, “India Hospitality Corp (IHC) has entered into a partnership agreement with us through its wholly owned hotel subsidiary Gordon House Estates Pvt Ltd (GHEPL). IHC will manage EWDPL’s hotels and food and beverage (F&B) outlets in various malls that are currently under development across India. The hotels and F&B outlets are part of EWDPL’s 24 million square foot development pipeline across India, eleven new shopping malls, ten additional hotels and eleven townships.”
Commenting on further expansion plan Medhora said, “As part of its hospitality portfolio, EWDPL is developing a total of 900 hotel rooms across 10 locations. The first phase of the hotel development pipeline includes 352 rooms across Nanded, Ujjain, Jabalpur, Bhilai and Raipur (first phase). The subsequent development pipeline includes 548 rooms across Mohali, Udaipur, Amravati, Indore and Thiruvananthapuram (second phase).”
The company is developing malls under three formats – Treasure Market City, the ‘destination mall’; Treasure Island, the ‘shopping mall’; and Treasure Bazaar, the ‘convenience mall’ format. The group is also coming up with residential townships called Treasure Town. “Our upcoming projects are Treasure Market City – Indore; Treasure Bazaar – Ujjain, Udaipur, Amravati; Treasure Island – Raipur, Bhillai, Mohali, Thiruvananthapuram and Vadodara,” said Medhora on being asked about the upcoming properties of EWDPL in India.
— Diwakar Kumar