‘Express Avenue’, by far Chennai’s largest shopping mall, is likely to be launched in the next few months. "Close to 60 per cent of the retail space has already been leased out for six to nine-year term, and we are hoping to launch the Phase I by the end of this year,” said Mr Kim Culley, Head, Mall Operations, Express Infrastructure.
The over 12-lakh sq. ft complex will have a total of nine lakh sq. ft retail space, two-lakh sq. ft office space and a 60-70 room hotel at a built-up area of over one lakh sq. ft. The promoter of the project, Express Newspaper Pvt Ltd, has invested close to Rs 400 crore in the project. The “destination mall” will also feature an eight-screen multiplex, likely to be run by Sathyam Cinema group, a 40,000-sq. ft theme-based food court, parking facility for 1,700 cars, 14 lifts, eight escalators and a travelator.
According to people in the know, a Future Group’s retail brand will run a hyper market. Marks & Spencer and Dubai-based Landmark group’s LifeStyle will also be anchor stores. Sources also said the lease rental is fixed at Rs 200 a sq. ft, and the mall will be maintained by the company itself. Neither denying nor confirming any of this, Mr Culley said, “Majority of the country’s major retail brands will be there”.
A world class shopping Cµm entertainment complex, housing some of the biggest brands from around the world along with a five star hotel and Grade A office building.The mall promises to give Chennai a whole new dimension to work, leisure, entertainment and shopping.
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