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Having launched its first mall last month, Brigade Group plans to develop similar projects across the South.
“In the next three-four years, we want to develop 2.5 million sq ft of space,” said Mr Vishal Mirhcandani, CEO, Retail, Brigade Group.
The projects, expected to come up in Chennai, Mysore and Bangalore, will require an investment of Rs 500 crore, he said.
“We are working on the sources for the funding of these projects,” he added.
The company launched the 8.2-lakh-sq ft Orion Mall, its first retail development, at Bangalore last month.
The Brigade Group has invested Rs 250 crore in the mall. Positioned at the affordable premium to premium segment, the mall has a mix of international and Indian brands such as Zara, Debenhams, Tommy Hilfiger, Mango, Esprit, Titan and Westside.
“We are targeting two-three consumer groups in the mall, as we do not want to restrict ourselves to a single set of consumers,” Mr Mirchandani said.
Tenants in the mall were chosen after an analysis of the current consumption pattern of people in the area and also what it would be five years from now, Mr Mirchandani explained.
The Orion Mall is part of the 40-acre Brigade Gateway that houses residences, a premium hotel, office spaces, a school and a hospital.
The Group has so far developed 20 million sq ft of space in 100 projects.
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