BANGALORE
Saturday, September 27th, 2008|
Global Mall, But Rooted In India What is going to be the final destination of Bangaloreans and out-of-town visitors? This is the Sobha Global Mall, one of the largest in India, symbolising the Sobha Group’s maiden entry in retail development. Davanam Constructions Pvt. Ltd is its partner in this venture. The Rs 1500-crore malls will be constructed on 17 acres of land. Located in the heart of Bangalore, the mall promises a larger than life “shoppertainment” experience for all its visitors. There will be a futuristic amusement park, a world-class ice skating rink, superior residential and business towers, a convention centre and a 192-room hotel. Over 4500 cars can be put under covered bays. With a super built-up area of 2.8 million square feet, this outstanding complex will be developed on the old Minerva Mills site. Supported by all forms of transport, the mall will be easily accessible from most parts of the city. It intends to be a one-stop destination where everything from high-end to economy shopping and exciting recreational activities for all age groups will be available. The project would be developed by Sobha Group from its internal resources and debt. The proportion has, however, not been finalised. Davanam Constructions, which owns the land, would be given a certain percentage of the developed property. Sobha intends to run the mall and the additional facilities by itself. The totally integrated mall complex, to be developed in about two years on the 17-acre land bought by Davanam in an auction, will have a modular mix of hyper market, home store selling furniture and household fittings, hotel and amusement centres with large screen multiplex. This is the first time that the company would be entering the hotel business directly. It would be looking for a tie-up with a marketing brand rather than a management brand for its hotel. After the Infosys building, the Sobha Global Mall is all prepared to set a trend, a benchmark for other retail developers and become a landmark of Bangalore. Courtesy realty plus |