Suncity Projects India Pvt Ltd, one of the country’s leading real estate companies, has planned to develop a combined area of around 4,800,000 square feet of retail space in and around the northern region of the country.
The company had recently announced a retail project called ‘Jewel of India’ (JOI), which will be a chain of malls combined with hotels, office spaces, amphitheatres and regional offerings to promote that particular region’s culture. The first of these malls will be developed at Jaipur and will cover an area of around 40 lakh square feet. The construction at Jaipur has already started; the property is expected to become operational by the first quarter of 2011.
Besides JOI, the company will also launch two more malls in Delhi and Jaipur within the next month. The Vasant Square Mall, to be operational at Vasant Kunj in New Delhi, is being built on an area of 3,50,000 square feet. The property also offers an office space, which is already operational.
Apart from premium retail brands, the mall will also house an amphitheatre that will seat 1,300 people and will also play host to cultural events, exhibitions and stage performances.
Triton Mall, to be operational by next month in Jaipur, is spread over an area of around 450,000 square feet and will house separate shopping zones for men, women and kids, along with a multiplex and gaming zone. Leading brands including Liberty, Shoppers Stop, Hyper Mart, Globus, Jumbo Electronics, Levi’s, Signature, Study by Janak, Reid & Taylor, Café Coffee Day, Archies, Action Shoes, Wills Lifestyle, Reebok and Killer have already been signed up as tenants.
The company, which currently operates the North Square Mall and the Crossriver Mall in Delhi, has also planned to develop new shopping centres in Raipur and Bareilly within a couple of years.
— Satrajit Sen