Pacific Mall, Pune, a project of Kumar Properties, is expected to become operational in the first quarter of calendar year 2011. The mall has a built-up area of 517,000 sq.ft.
The main anchors of the mall are Shoppers Stop, HyperCity, Globus, Marks & Spencer and Cinemax (which will open a five-screen multiplex), among others.
“We are clear that we want the right professionals to drive this business so that retailers and consumers benefit from the overall experience,” said Manish Jain, MD, Kumar Properties. “While this is our first venture (in shopping malls), we are keenly tracking the growth of this business and exploring new opportunities within our future mixed-use developments,” added Jain.
Kumar Properties has appointed Pioneer Property Zone (PPZ) as the management company for the project. “The vision of the Pune project is to create an urban environment that meets the needs of the immediate community. Our management will be of high standard to ensure that customers get a new experience,” says Ashwin Puri, CEO, PPZ.
Stressing that executing the tenant mix at Pacific Mall, Pune has been an interesting and challenging experience, Gautam Vaswani, strategic head, BD, Pioneer Property Zone, said, “With over 60 per cent space dedicated to anchors, it is key to develop a plan that complements anchors rather than competes with them.”
Founded by K H Oswal in 1966, Kumar Properties Group is now a well diversified, value driven enterprise. The group has successfully completed over 115 commercial and residential projects.
– Payal Kapoor
