Kolkata-based Forum Group has confirmed an investment of Rs 500 crore to build the largest shopping mall in Bhubaneswar. The mall would cover 0.9 million square feet and have a built-up area of 450,000 square feet.
The group has key business interests in retail, real estate and entertainment.
The project, called ‘Forum Esplanade’, arrives in one of the city’s strategically located areas and is being built by Leighton, a major construction and subcontracting company based in Australia. It is said to house around 150 operators in sectors such as retail, food and entertainment. In addition, the mall reportedly counts the Mexican multiplex chain Cinepolis as one of its major key tenants. Cinepolis has engaged a multiplex of seven theaters with a capacity of 1,250 seats. Retail chains like Lifestyle, Max and Home Center are also reportedly moving into the mall complex.
“The Forum Esplanade project is expected to be completed by March 2018. By June of this year, we hope to finalize the rental of the space for the shopping center,” said Rahul Saraf, Managing Director of Forum Group.
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