Bangalore-based Blue Horizon Hotel Group will open its first mall – Vega Mall – in the city in September 2011. The mall’s total developement size is 1.4 million sq.ft, which includes 700,000 sq.ft built up area of retail including 5 basements for parking and a 210 key Taj gateway hotel. The gross leasable area (GLA) of shopping centre is 380,000 sq.ft . The mall will be located on Bannergatha Road in South Bangalore.
Srinivas Raju, MD, Blue Horizon, says, “When we decided to convert our 40-year-old industrial estate into a newage commercial venture, we were clear that we wanted to do something associated with retail as the location was extremely dynamic.”
Keeping true to the intention of developing an entertainment destination, Raju signed PVR as the cinema anchor and tied up with Blu-O to provide an 18-lane bowling alley. Vega mall will also have five basements with over 1,400 car parks.
"Being a multi-level shopping destination, selecting the right retail concepts and tenant mix will be critical to ensure there is a good flow of shoppers and visitors to each level so that tenants can sustain themselves,” says Najeeb Kunil, director-BD, Pioneer Property Zone (PPZ). Vega Mall has appointed PPZ as the property manager for the project and will be managing the design progression, tenant mix and leasing strategy of the mall.
“We are targeting a launch for September 2011 and are well on track to deliver this date with anchors and key players given possession by early 2011,” adds Najeeb.