Oberoi Realty's upcoming mall will likely have a soft launch in October this year, as per information accessed by Shopping Centre News from regulatory compliances by the company.
"The mall (Borivali) is near complete. We are doing deep cleaning at some places, we are doing last-mile finishes at certain other places.
The cinema tenant is already in the property doing their fit-outs," said Vikas Oberoi, Chairman and Managing Director, Oberoi Realty in the fourth quarter financial year (FY) 2024 earnings call.
"We have also started signing term sheets. In fact, even there, we've had tremendous success and a lot of progress. We should be able to have a soft launch by October," he added replying to an analyst query.
The million-and-a-half sq. ft. mall codenamed Sky City Mall is flanked by the Western Express Highway on one side and the Devipada metro station on the other. The mall was supposed to open in October 2023 but got delayed by a year due to some reasons.
An industry source confirmed that "things are now back on track and there's a flurry of activity there and something could be expected soon." As per broking firm Yes Securities' first quarter FY24 analysis on the company, fit-outs by tenants were to begin by February-March this year to get "fully operational 2-3 months before the festive season."
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