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mall developers have found a new innovation in the form of speciality malls


By raghav, Section Infrastructure
Posted on Tue Feb 20, 2007 at 12:19:25 AM EST

The  mall mania cannot get better. In an effort to outdo competition, mall developers have found a new innovation in the form of speciality malls. So out are the regular malls offering a plethora of goods and services, as developers get ready to offer one-stop solution to the customers in speciality malls.

Gold souks, wedding malls, festival city, boutique malls! The region is finally going to wake up to speciality malls. Other than a wedding mall that is coming up in Patiala, at least two Gold Souks are expected to come up in two cities of Punjab, including Ludhiana. A boutique mall and the Festival City are expected to come up at Ludhiana.

How is a speciality mall different from a normal one? Unlike the normal malls, speciality malls focus on a specialised product category. In a real estate mall, for instance you can walk in and out with keys to your dream house and in an auto mall, you may shop around for the latest car of all possible brands under one roof. The economics of these malls is also different from the retail ones. The footfalls in these malls, though less than a normal one, will see only the real buyers.

Aeren R Enterprises is coming up with a theme destination mall at Ludhiana. The company plans to invest Rs 300 crore towards the mall, which promises to offer an international retail, entertainment and leisure experience. The mall would also have Punjab's first IMax theatre. "It would be among the biggest malls and is planned over two million-square feet of the covered area. People will be introduced to the latest concept of `malls within a mall' through it," says CEO Aeren R Enterprises Sudhir Mathur.

Located on the outskirts of the industrial town off the Delhi bypass chowk on the Ludhiana-Jalandhar GT Road, the company aims to attract customers from the city and around, including Phagwara, Jalandhar and Amritsar. The mall, Mr Mathur says, will be operational by April 2008.

He says besides environment-friendly design with large open sky spaces, landscaped greens with water bodies and fountains, the company will take special care for the safety of kids, elderly and differently-abled.

Bouyed by the new innovation in the mall culture, Ansal API, too, is planning to come up with a boutique mall in Ludhiana. Mr D Sachdev, Director of Ansal API, says that the mall will come up on the Mall Road and will house international fashion stores. "Speciality malls are an in thing in the real estate sector. These ensure that people want to go to a mall not for an experience of visiting a mall, but to encourage people to shop. These malls will ensure that genuine customers come here and have the pleasure of shopping at will," he says.

But ask the developers about the malls not being a success in Gurgaon, and they say that it has largely been due to an imbalance between demand and the existing capacity. They say no proper survey had been done to identify the demand and the number of expected footfalls. However, as the NCR region is expanding, it is getting better as the buying power of the purchasers has also gone up.

(Source-Tribuneindia,20/02/07)

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