The 17 lakh sq ft shopping sprawl will be completed in 20 monthsIt is going to be the biggest of all malls. A 17 lakh sq ft shopping sprawl — in which more than seven Atria malls can squeeze in — is coming up close to Thakur Mall at Dahisar.
Promoted by the Dynamix Balwa (DB) group, construction is already underway for the mall to be completed in another 20 months’ time. Pantalons and Shoppers Stop — the two anchor tenants — have tied up 5 lakh sq ft space in the mall.
But the DB group is not the only one in the global race to construct big retail malls. According to property experts, of the total retail malls under construction in the country today, 30 are over a million sq. ft in area. While Delhi-NCR leads the way, Mumbai is not far behind.
On the trend why developers are constructing bigger malls, Ashutosh Limaye, Vice President (Consulting) of Jones Lang Lasalle Meghraj, global property consultants said, “Investment in retail brings maximum returns in the long run.
The existing malls currently are not big to cater to a mix use of retailers and not small enough to cater to a niche market.’’
