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Kakade Construction setting up 6 malls in Pune
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Earmarks Rs 900 crore for the project
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Pune
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Aug. 11
Kakade Construction Company is setting up six malls in Pune, which would have a total area of 18 lakh sq ft dedicated to retail.
Addressing presspersons, Mr Sanjay Kakade, Director, Kakade Construction Company, said it has earmarked about Rs 900 crore for the construction of the projects and the malls would be ready by 2008.
He said two malls would be opened this fiscal and the first one which is located on MG Road would be opened to the consumers on August 20 and would have brands such as Anchor, Westside, Pyramyd and international brands such as Marks and Spencer, Next brand of jeans etc. The mall would be spread over 1.5 lakh sq ft.
The second mall, spanning two lakh sq ft would be in the other end of the city, closer to the Pune University and would be open to consumers by Diwali this year.
Residential project
Besides, the company has also started a 4-lakh sq ft residential project in the city.
Mr Sanjay said it had converted one of the residential complex area to cater to the demands of the IT companies. About 21-lakh sq ft area has been earmarked and the first phase of the project is expected to begin in November this year. The first phase would be ready by 2008 and would have about five lakh sq ft area to be utilised by the IT companies.
Founded in 1985, Kakade Constructions has recorded a turnover of Rs 400 crore for the fiscal ended March 2006 and is estimating to increase the turnover by another Rs 250 crore by the end of the current fiscal.
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