Koregaon Park Plaza, Elbit Plaza India’s soon-to-be- launched mall in Koregaon, Pune will cover an approximate area of 50,000 sq m spread across three floors. The mall will house commercial shops, food court, 4,000 sq m hypermarket area, 4,000 sq m cinema (7 PVR screens that will mark PVR’s foray in Pune) and 4,000 sq m area of entertainment zone.
Koregaon Park Plaza mall has a wide open space comprising 6m height ceilings (floor-to-floor), a huge 24m atrium and interiors designed with a provision of adequate natural light . The mall’s European design has been conceptualized by Uri Shetrit, the Chief Architect of Plaza Centers N.V.,
The expected footfall is between 30,000-40,000 people per day. The area of individual shops in the mall is 314,443 sq.ft. Rent for the shops will be in the range of Rs.90-140 psf on leasable area and would vary from floor-to-floor. There will be a 15 per cent hike in the rent after each year and the contract will last for 3 years. A lease provision for 9 years is also available.
Some of the brands that will have their shops in the mall are The Collective, Spar, PVR Cinemas, Shoppers Stop, Aldo, Promod, Blu-o, Globus, Esprit, Tommy Hilfiger, Guess, Next, Clarks, Subway and KFC. The food court wll have brands such as KFC, subway, Tikka town, MOD, Kailash Parbat, Chutney Chowk, New Zealand Ice creams and Falafels.
Majority of ground floor brands are international brands. For example, The Collective, Promod, Aldo, Guess, Next, Clarks, Accessorize, MAC, Clinique, Swarovski, Forest Essential, Nautica, Sisley, US Polo, Blu-o, Gloria Jeans Café, S Oliver and UCB.
The third floor will house the bowling alley ‘Blu-o’. Koregaon Park Plaza’s entertainment zone will have bowling alleys, video games and a discotheque. The mall will be guarded 24×7 and will be monitored by state-of-the-art access-control and CCTV systems through all the entries, exits and parking areas. The mall will have 12 elevators (6-passengers and 6-freight) and three sets of restrooms on each floor. Brand allocation in the mall will be strictly as per zoning. Koregaon Park Plaza will remain open from 10am to 10pm.
The escalators give access to all the mall floors including the basement parking. The parking spaces in 3 basement floors have the capacity to accommodate 1,100 cars and 950 two wheelers with 3 entry and exit points to avoid congestion and ease of traffic flow. In addition, the mall will introduce state-of-the-art technology to facilitate fast and smooth parking. A smart parking management and control system will be provided including vacant parking indications, smart barriers that are prevalent in European countries and automated parking systems to help customers identify the vacant space and lower parking times.
The mall will also have a separate space for their drivers called ‘Drivers Room’ where they can keep themselves entertained while the patron shops.
The expected completion date of the mall is November, 2011.
Elbit Plaza India was formed due to an association between Plaza Centers N.V and Elbit Imaging. The Plaza Centers Group of Companies is involved in development, construction and leasing of shopping & entertainment centers and has a global turnover of 1 billion Euros. Elbit Plaza India’s initial investment for the Koregaon Park Plaza is Rs. 500 crores. The company plans to invest over Rs. 3, 000 crore in the coming years by setting up 6 new malls across India. The malls are planned in Chennai, Hyderabad, Bangalore, Kochi & one more in Pune.
-IndiaRetailing Bureau
