Navi Mumbai and the central suburbs are slowly becoming magnets for malls that have retail stores & gaming zones.
The Western suburbs are not the only preferred destination for setting up entertainment hubs. Navi Mumbai and the central suburbs are slowly becoming magnets for shopping malls that have retail stores, food courts, gaming zones and multiplexes on offer.
Industry sources estimate that more than 25 malls are in various stages of development, seven of which are expected to come up in Vashi, four in Thane and one each in Ghatkopar, Bhandup and Kalyan.
“Since Mumbai is the financial hub of the country, it makes sense to spread entertainment options evenly all over the city,” said Manoj Motta, leasing and business development manager of Malad’s Inorbit Mall, which will soon set shop in Vashi.
Though Mumbai’s very first mall, Crossroads, stands in the heart of the city at Worli, entertainment hubs have now become a suburban trend. The developing residential areas in the suburbs have opened up opportunities for mall developers to flex their business muscle.
The dimension of malls—spread over an area between 1,50,000 and 7,00,000 sq ft—is the biggest reason for the mall developers to move towards the suburbs and new townships.
Such huge tracts of land would not be available anywhere within the city. And if they were, they would come at a premium rate.
“Compared to city spaces, townships like Vashi or suburbs like Ghatkopar, Mulund and Kalyan offer affordability and more space,” said Shunali Shroff, head of corporate communications, Shringar Cinema that owns the Fame chain of multiplexes.
Fame will soon set up shop in upcoming malls in Thane, Kalyan, Dadar, Ghatkopar, and Vashi. Another reason being cited for the rising number of malls in these areas is the influx of new residents moving in from more affluent parts of the city.
“We have around 70,000 visitors on any given weekend,” said Ruchi Sihare, assistant manager of Centre One, Vashi.
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