Comments
Kozhikode city, which has a hoary past and rich cultural tradition, is fast emerging as a modern business hub. A host of shopping malls have come up in the city to give a major thrust to retail business.
The latest retail project to come up in the city is Hi Lite Mall promoted by the Kozhikode-based Hi Lite group. Major multinational retail brands such as Lifestyle, Spar, Marks and Spencer, Cinepolis have already booked space at Hi Lite Mall, part of the Rs 900-crore Hi Lite City project.
Opening next year
The mall is scheduled to be opened next year, Mr Jonathan Yach, CEO, of the South Africa-based Propcare Mall Management, which handles 11 malls in the country, told a team of visiting media persons from Kochi at the project site.
Of the 11 malls operated by Propcare, only two are in tier II cities – in Hyderabad and Kozhikode. He pointed out that the retail business was not well-developed in these cities earlier. However, the growth of business opportunities in the recent period has led to retail development.
‘Huge potential’
The potential of Kozhikode is huge because of the high purchasing power of the growing number of NRKs and the Hi Lite Mall is sure to attract an estimated 30,000 footfalls daily, he said, adding that the mall itself would provide 3,000 to 4,000 direct employment.
According to an Assocham study, Kozhikode is ranked second among tier-II cities in India to reside, considering parameters such as health, education, environment, safety, public facilities and entertainment.
Spanning across 16 acres along the NH -17 Thondayad bye-pass, this integrated township project is a mix of posh residential, commercial and retail complex, aggregating over one million sq ft of built-up area with a facility to accommodate over 3,000 car parking space.
The retail and entertainment spaces include 1,20,000 sq ft hypermarket, 50,000 sq ft department store, 3,000 sq ft gaming zone, he said.
It will also have a total built-up area of 1.4 million square feet with 200-plus branded retail outlets, a business hotel, 8 screen multiplex, food courts, convention/expo hall, Mr P. Sulaiman, CMD, Hi Lite Group, and director Mr Mehaboob said.
On completion, the project will be a boost for Kerala’s retail sector and it will also open up huge investment opportunities from far and wide, they added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.