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Neptune Magnet mall appoints IDEAS C & A for management

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Neptune Magnet mall will now be managed by IDEAS Consulting and Advisory headed by the consultancy’s owner Surjit Singh Rajpurohit who has replaced Susil Dungarwal, from Beyond Squarefeet Advisory, as the new chief executive officer with effect from 1st August, 2012.

Rajpurohit has over 18 years of experience in mall management and marketing. Commenting on the appointment, Rajpurohit said: “It is a new beginning and I am delighted to take on this new responsibility. I am ready to complete the unfinished agenda of the business. Neptune Magnet mall has tremendous potential which is yet untapped as it has not been marketed well. Result oriented, effective, and performance-based mall management and practices are required; which would be implanted by our expertise. We are sure that it will be a turning point for this mall.”

Nayan Bheda, Chairman and Managing Director, Neptune Group, said that Rajpurohit’s leadership and experience will enable the mall to achieve its growth and profitability goals.

Neptune Magnet mall, a retail project of the Neptune Group in Mumbai, spreads over 1 million sq.ft. The mall has approximately 250 outlets, 10 mini anchors, and a two-level parking. It has already signed brands such as DLF Avenue, Iconic, Vero Moda, Jack & Jones, Only, OVS, Louis Philippe, and Van Heusen.

The mall claims to have Mumbai’s biggest two-level food court, spread across 60,000 sq.ft. with 30 kitchens, with a Family Entertainment Centre (FEC) signed with GETLOST spread over 70,000 sq.ft. with 35 ft. indoor drop-down tower and 6-lane bowling alley. It is India’s second mall to have an in-house ice skating rink and one of Mumbai’s first malls to have a mini golf course. The mall also has 6-screen multiplex by Cinepolis.

IDEAS Consultancy and Advisory is a real estate solutions provider with specialisation in retail asset management. The company provided services in research and consultancy, capital markets, land acquisition, retail development advisory, leasing and management across South-Asia. Some of the projects managed and developed by it include Moments mall (Delhi), Rahul Raj mall (Surat), Regent mall (Surat), City Emporium (Chandigarh), City mall (Lucknow), and Jamuna Future Park (Dhaka) which spread over 45 lakh sq. ft. IDEAS Consulting and Advisory has signed and launched “AVE.NUE” across 10 cities in India.

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