Phoenix Market City Bangalore, an approximately Rs. 500 crore project, developed by Island Star Mall Developers Pvt. Ltd., is ready to roll out its mixed-use asset in Bangalore. The project developed at Mahadevpura, Whitefield Road, covers 14.8 acres of land with a total projected built up area of over 1.90 million sq.ft.
Referring to this development ‘as a city within a city’, Shishir Shrivastava, Executive Director at The Phoenix Mills Ltd says, “The company has received an excellent response from the retailing community, with over 160 retailers in total in place and over 75% of the area already committed to top retailers in the country. With the market sentiment being upbeat and with retailers being positive about the development, we are confident that Phoenix Market City will be a success.”
A major part of this project will see residential development aimed at the ‘Global Bangalorean’. A hotel partner to compliment this development is being identified. The pre-opening leasing traction for Phoenix Market City has seen success with retail partners like Hypercity, PVR, DLF Home, Marks and Spencer, Pantaloons showing interest in setting up outlets within the mall premises.
An officially handover of the mall premises to retailers for fit outs will commence from 30th September 2010.