Malls think big & make it happen

GURGAON: If you think shopping malls covering a retail area of 3-3.5 lakh sq ft are big, get ready to experience the next level in the value chain.

In the pipeline are integrated ‘market cities’, in most cases spanning an area of over 10 lakh sq ft. Well, that’s likely to be the latest format of organised retail and analysts expect almost a dozen such projects to be operational in various parts of the country by the end of this year.

According to industry sources, Pantaloon Retail has already designed three such large-scale formats in different cities of the country, covering retail areas ranging between 10-20 lakh square feet each.

Analysts feel that to a great extent, the projects by the retail major will be like a fusion between the traditional village haat and the futuristic mall-based retail formats.When contacted by ET, Kishore Biyani, managing director, Pantaloon Retail (India), said, “All I can say is that these market cities will be huge. We are not in a position to talk much about the projects
at this stage.”

However, a source close to the company said, “This format will be like an integrated city in itself. Apart from routine retail spaces, food courts and multiplexes, there will be hotels and entertainment complexes.

In fact, the primary positioning will hover more around general outings than shopping, and there will be a particular emphasis on entertainment.” On a similar line, International Amusement is developing “E-city”, a 147-acre complex in Noida, in a tie-up with the Unitech group, with an estimated investment of around Rs 1,000 crore.

Apart from two shopping complexes, a six-screen multiplex and a hotel, the complex will also have amusement parks themed around cartoon network characters and other themes for different target audiences. Ansal Properties & Infrastructure is also giving finishing touches to a similar project.

The company is developing an Ansal Plaza at Greater Noida over an area of more than 7.5 lakh sq ft. Abhijeet Das, head, Ansal Plaza Mall Management Company, said, “Though shopping will remain the primary focus, many more value additions will also be made. We plan to introduce some innovations in shopping comforts as well.

For instance, different floors will host different product categories, and each category will comprise of 30-40 brands.” Of the total project area, about 6 lakh sq ft will stay dedicated to retail and the rest will be used for a hotel-cum-entertainment complex.

Other developers, which are learnt to be working on similar formats include DLF and I-city Infrastructure, among others.