Wednesday, June 25, 2008

The race to build India's biggest mall

A number of large malls are being developed in India. The opening up of these malls will give a considerable boost to the Indian Retail Industry.

The DB Realty -Orchid Ozone

DB Realty, India’s fastest growing real estate and hospitality conglomerate, is developing Orchid OZONE - India’s biggest mall with over 2.5 million sq. ft at Dahisar, North Mumbai. Being built with an investment of USD 175 million (Rs. 700 crore), the mall promises to transform the sector by ushering the Next Level of international benchmarks in the Indian retail industry.

Orchid Ozone will be a complete and unique retail experience spread over 1.6 million sq. ft for urban shoppers. In addition, it will also comprise of luxurious lifestyle and entertainment choices such as:
* Mystifying Water themed atrium by Wet Design Inc, USA
* A 20-screen megaplex theatre
* A 125 room boutique hotel
* A 50,000 sq. ft kids ‘play & care’ zone
* Travolators to connect shoppers seamlessly from one level of the mall to the other.
* Large food courts offering world cuisine that overlook the scintillating water themed atriums.

Open to shoppers :2009 -2010

Mall of India

Gurgaon, already over-crowded with malls, is set to get the mother of all malls -- a humungous 40-lakh sq ft sprawling property that is being touted by its developer DLF Universal as the biggest mall of the world.The average size of malls here is 2.5 lakh sq ft; this will be 16 times bigger. The mall -- christened Mall of India -- will be spread over 32 acres and will have parking space for 10,000 cars.

Open to shoppers :2009

Emaar MGF Mall

Taking realty major DLF head-on, Emaar MGF is planning to build India's largest mall. Currently on the drawing boards, the mall will ape the world's largest mall (spread over 5.8 million sq. ft.) being built by the compan’s partner (Emaar) in Dubai.

Open to shoppers : TBD

It will be interesting to see how the decline in the Indian real estate market affects the construction of these projects. With a growing inflation and high oil prices, it is likely that the malls open up at a time when the Indian consumer confidence is at its lowest since 2002.