Global investment firm Blackstone Group Lp’s India subsidiary Nexus Malls has recently launched the first phase of it’s debut development ‘Seawoods Grand Central Mall, Navi Mumbai’, expanding its retail portfolio. Seawoods Grand Central is 3rd asset in Nexus portfolio of malls in the country. Typically, Blackstone buys out malls, which are then owned and run by Nexus but Seawoods remain it’s first new mall development. Nishank Joshi, Chief Marketing Officer at Nexus Malls, talks about the USP of Seawoods Grand Central mall and also talks in context of other malls coming under their portfolio.
The Seawoods Grand Central Mall is Nexus’s first new mall development, Why did you choose this particular project as your debut development? What is special about it? Please tell us in brief about the catchment area you are catering to?
Seawoods Grand Central was the 3rd asset in our portfolio of malls in the country. But, it happens to be the first mall for Nexus that has been while a project is still not operational. In that respect, it is a first and yes it does make the project special.
By sheer size Seawoods Grand Central Mall shall cater to the entire catchment form Chembur to Panvel. This is a significant catchment and with all the infrastructure changes coming about as well as the new airport getting the clearance. This catchment is now poised for phenomenal growth over the next few years. Also, being a part of India’s largest TOD, makes it truly a special project for India.
What is the total built-up area of the mall? What percentage of the mall is leased out?
The total retail space in the Seawoods Grand Central complex is about 1.2 million square feet. However, we have launched the first phase of Seawoods Grand Central Mall in March with approximately 800,000 square feet of retail space and we already have over 85 operational brands. The second phase comprises of Cinema and FEC which will be an additional 400,000 square feet of space.
This story is from the April - May 2017 edition of Shopping Centre News.
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This story is from the April - May 2017 edition of Shopping Centre News.
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