News: Aeren Group plans Indian theme malls
(TNN 22/04/2006) Delhi - The Aeren group has chalked out plans to put in place a dozen odd theme malls across the country over the next three years with an investment of around Rs 2,500 crore. The first of the malls is coming up at Ludhiana.
The Festival City project at Ludhiana is spread over 2m sq feet with an investment of Rs 250 crore. Based on “mall within a mall’ concept, the destination mall at Ludhiana, situated on a highway, is positioned as family outing centre for shopping, entertainment and leisure.
Apart from showrooms of leading domestic and international brands, the mall will house six-screen multiplex and an IMAX screen, including a ice-skating ring, gaming zone, bowling alley, and a video arcade.
“This will be the first experience of mall-in-a-mall concept for Ludhiana, with special focus on kids, lifestyle, fashion, hospitality, entertainment and leisure,” Sujit Kumar, CEO, Aeren R Enterprises told ET. Mr Kumar said around 50% of total commercial space has already been leased out.
The Festival City is spread across seven floors and is expected to be completed by April 2008. The catchment area of the mall will be Phagwara, Jalandhar, Moga, Khanna, Amritsar, Chandigarh and Ambala.
According to Mr Kumar, the group is looking at around a dozen-odd theme malls over the next three to five years across north India with an investment of around 2,500 crore.
The Aeren group already runs several mall projects including Gold Souk, a speciality mall for jewellery and wedding, Crown Interiorz at Faridabad, and another at Vikaspuri at Delhi. The group is also developing high end residential projects at Gurgaon and Rishikesh.
The Festival City project at Ludhiana is spread over 2m sq feet with an investment of Rs 250 crore. Based on “mall within a mall’ concept, the destination mall at Ludhiana, situated on a highway, is positioned as family outing centre for shopping, entertainment and leisure.
Apart from showrooms of leading domestic and international brands, the mall will house six-screen multiplex and an IMAX screen, including a ice-skating ring, gaming zone, bowling alley, and a video arcade.
“This will be the first experience of mall-in-a-mall concept for Ludhiana, with special focus on kids, lifestyle, fashion, hospitality, entertainment and leisure,” Sujit Kumar, CEO, Aeren R Enterprises told ET. Mr Kumar said around 50% of total commercial space has already been leased out.
The Festival City is spread across seven floors and is expected to be completed by April 2008. The catchment area of the mall will be Phagwara, Jalandhar, Moga, Khanna, Amritsar, Chandigarh and Ambala.
According to Mr Kumar, the group is looking at around a dozen-odd theme malls over the next three to five years across north India with an investment of around 2,500 crore.
The Aeren group already runs several mall projects including Gold Souk, a speciality mall for jewellery and wedding, Crown Interiorz at Faridabad, and another at Vikaspuri at Delhi. The group is also developing high end residential projects at Gurgaon and Rishikesh.
posted by InCar Group Press Room at 13:11
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