Pacific Development Corporation Ltd’s shopping centre, Pacific Mall in Rajouri Garden, Delhi, is set to become operational from October 2010. The project, under development, boasts of an exciting mix of retail and entertainment with approximately 40 per cent of the space dedicated to food and entertainment concepts.
The project sports a good mix of international, national and local retailers with Lifestyle and Spar as anchors. The total covered area of the property is 301,000 square feet and total built up area is approx 456,000 square feet excluding the parking space. Abhishek Bansal, executive director, Pacific Development Corporation Ltd reveals to IndiaRetailing, “The store size of Lifestyle is 65,000 square feet carpet area and that of Spar is 46,000 square feet.”
Bansal further says, “The rental model that we use is a combination. The tenants will be required to pay the greater of either a fixed minimum base rental or a percentage of sales.”
“A lot of care and attention has gone into developing the centreand we have not compromised in any area,” emphasises Bansal, who is developing this project on land leased from Delhi Metro Rail Corporation. “The current malls in this area are highly constrained. Most projects suffer from issues such as badly conceived designs, lack of basic infrastructure such as parking, constrained tenant mix, spaces in the malls being sold and lack of professional mall management. At Pacific, we will ensure to deliver a customer-friendly environment keeping international standard designs in mind,” adds Bansal.
“The site, with roads on three sides, makes it well-suited for a shopping centre due to the accessibility it offers. Moreover, 1,500 parking bays will be a boon for customers in Delhi. Pacific has also appointed Pioneer Property Zone (PPZ) to plan and execute a suitable tenant mix as well as to manage the mall. We have developed an aggressive marketing calendar for the next one year to ensure that the mall establishes itself,” he remarks.
Bansal further says, “The tenant mix forms a critical element to the future success of Pacific. We will be guiding the retailers to support this plan. Entertainment is a key component and we will be introducing different concepts to cater to customers of different age. With brands such as Mango, Nine West, Pramod, Aldo, La Senza, Charles and Keith etc signed along with the anchors highlights that this catchment still has significant potential if brands are given the right platform to operate. All this and more will provide customers with an overall experience, something they currently do not get in any project at West Delhi.”
PPZ is putting together a professional team to manage the operations post commencement at the centre. “Having leading international brands indicates the confidence the retailers have in this catchment,” says Ashwin Puri, CEO, PPZ. Currently, 50 per cent of the property stands signed.
Puri adds, “This project will set new benchmarks in retail shopping centres and we have an aggressive marketing strategy to ensure we establish the centre within the first year itself.” PPZ will be following a clear process to ensure opening in October 2010 with the fit-outs of anchor stores beginning in April. Major Brands, with an array of 11 different stores on the property, will take possession of their units from June 1, 2010.
— Diwakar Kumar