Are you filled with excitement? You should be as Mumbai will get its new swanky mall soon to your nearest location.
Mumbai harbors some of the most prominent and popular malls in the country, which have evolved beyond mere shopping destinations to become social hubs that reflect the city's cosmopolitan nature. Oberoi Realty, India's leading real estate development company, is now preparing to inaugurate a second mall in Mumbai, specifically in Borivali.
By mid-2024, the group aims to initiate leasing for the mall, which spans 1.5 million square feet. This new mall will be Oberoi Realty's second venture in Mumbai following the success of the Oberoi Mall in Goregaon East. Situated within the Oberoi Sky City project in Borivali, the mall enjoys convenient access to both the Mumbai Metro and the Western Express Highway (WEH).
Projections suggest that the mall has the potential to generate annual rentals of ₹250 croresand is anticipated to stabilize by FY25. According to Moneycontrol, the Borivali Mall will accommodate approximately 1,800 families residing in the five towers of Sky City's initial phase of residential construction. Additionally, around 3,200 households in the vicinity will have easy access to the mall. Moreover, the mall's catchment area will expand due to its accessibility to both Metro line exits.
The report also mentions that INOX, a renowned theater chain, has already joined as one of the anchor tenants, offering a 10-screen multiplex. The mall will feature a lower ground floor, ground floor, two stories of shops, and Family Entertainment Centers (FECs) and Food & Beverage (F&B) outlets on the third and fourth floors respectively. Furthermore, a rooftop F&B space will be situated on the fourth level.
Oberoi Realty has established a strong presence in the Mumbai metropolitan region and has expanded its operations to other parts of India. The company has successfully developed numerous residential, commercial, retail, and hospitality projects, renowned for their architectural brilliance and meticulous attention to detail.
Similar to its previous endeavors, this project is expected to be holistic. Oberoi Mall, located in Goregaon, Mumbai, is part of a meticulously planned integrated township. It encompasses a shopping mall and various recreational amenities, designed to provide a holistic experience by combining modern infrastructure with green spaces and a serene environment.
So, are you looking forward to the opening of this new mall in Mumbai?
