Mumbai-based Phoenix Mills is planning expansion pan India by setting up shopping malls 'Phoenix Market City' in the major cities like Mumbai, Bangalore and Chennai by March 2012.
Recently, Phoenix Market City has opened in Pune. Project's total investment Rs 700 crore, spread over 30 lakh square feet area in Viman nagar. The company is expecting to generate a revenue of Rs 100 crore from the Pune mall. The mall has 55 stores that have already started operations, while 155 stores have been handed over for fit outs and it has a capacity of over 300 stores to accommodate.
The Phoenix Market City is also planning to develop 2 five star hotels within the Shopping Mall.
The shopping mall comprises a large courtyard, hyper market area, departmental stores, bookstores; electronics and a toy stores. It also has public plazas, hospitality, retail and entertainment.
Mr. Atul Ruia, managing director, Phoenix Mills Ltd, said, "Phoenix Market City, Pune is a significant step in building a blueprint for future Phoenix developments around the india. This lifestyle destination, a futuristic mixed-use led retail development format represents an important milestone in Phoenix Mill's strategy to diversify in growing markets.
Recently, Phoenix Market City has opened in Pune. Project's total investment Rs 700 crore, spread over 30 lakh square feet area in Viman nagar. The company is expecting to generate a revenue of Rs 100 crore from the Pune mall. The mall has 55 stores that have already started operations, while 155 stores have been handed over for fit outs and it has a capacity of over 300 stores to accommodate.
The Phoenix Market City is also planning to develop 2 five star hotels within the Shopping Mall.
The shopping mall comprises a large courtyard, hyper market area, departmental stores, bookstores; electronics and a toy stores. It also has public plazas, hospitality, retail and entertainment.
Mr. Atul Ruia, managing director, Phoenix Mills Ltd, said, "Phoenix Market City, Pune is a significant step in building a blueprint for future Phoenix developments around the india. This lifestyle destination, a futuristic mixed-use led retail development format represents an important milestone in Phoenix Mill's strategy to diversify in growing markets.
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