OTHERS
| Alpha G: Corp eyes integrated township project in state Mon, 22 Oct 2012 00:55:05 +0530 |
| Business Standard Economy Policy News Having successfully completed one year of its largest mixed use city centre AlphaOne in Ahmedabad, real estate developer Alpha G:Corp is now looking at more varied projects in Gujarat. On one hand, while Alpha G:Corp is looking for a similar mixed use city centre in Surat, on the other it is also looking at setting up an integrated township projects in Ahmedabad. "We are here to stay in Gujarat. We have tasted tremendous success with regards to our mixed use city centre AlphaOne and would like to see that success being repeated in other parts of the state. We are looking at a mixed use development in Surat as well as an integrated township projects," said Prodipta Sen, executive director - marketing, corporate affairs and retail, Alpha G:Corp. While the mixed use city centre could be as large as the AlphaOne Ahmedabad, the integrated township project would be spread across more than 100 acres. "Wherever Alpha G:Corp has done any integrated residential township project, it has been more than 100 acres," Sen added. For its future projects in Gujarat, the company is banking on the brand support it has received for AlphaOne Ahmedabad. Spread across a total development area of over 1.2 million square feet, AlphaOne Ahmedabad houses some of the biggest brands in retail and entertainment in the country including Lifestyle, Cinepolis, Shoppers Stop, and HyperCity, among others. What's more, in last one year, AlphaOne Ahmedabad has seen a whopping occupancy rate of close to 98 per cent across its gross leasable area of 706,000 sq ft. "The average occupancy in our other malls have been around 95 per cent. But, including commitments from brands who will be setting shop by December, we have seen the highest occupancy rate of 98.9 per cent at the Ahmedabad property," said Sen. The initial investment for AlphaOne, Ahmedabad has been over Rs 360 crore for Phase – 1 with hypermarket, big-format retailing, stand-alone boutiques, with world's second largest operator of the 6-screen multiplex, hospitality and F&B including one of the largest and choicest food courts in India. The retail development AlphaOne Ahmedabad also caters to daily shopping needs, varied cuisine, fine dining and entertainment. |
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