Maharashtra-based Fortune Developers is set to open a mall, Fortune Plaza, in Ichalkaranji City, Kolhapur. The mall is set to be operational by the end of March 2010. However, the inaugural date of the mall is not yet fixed. Talking exclusively to IndiaRetailing Viren Shah, partner of Fortune Developers says, “The total area of the mall including parking space is 140,000 square feet. We have invested close to Rs.50 crore in the property.”
The real estate developer has fixed its rental module with retailers on revenue sharing with minimum guarantee.
“The power brands of the mall will be Big Bazaar, Tata Trent’s Fashion Yatra. Big Bazaar hypermarket is set to occupy 30,000 square feet of our property and is expected to open in the next 15-20 days. The fit-outs of the store are currently underway,” informs Shah.
Other brands including Provogue, Spykar, H & A (Alok Industries) are expected to open at the property. The property will also house food court, parking space and three-screen multiplex with gaming zone, confirms Shah. The group is in talks with Cinemax and other multiplexes. The property, currently, is 60 per cent occupied.
— IndiaRetailing Bureau