Collage group to up retail presence

Delhi-based Collage group is exploring opportunities for opening up retail destinations in various cities.

They have tied up with retail consultants Technopak Advisors Private Ltd to conduct a reaserch for retail opportunities in different cities. At present, Technopak is doing research on retail opportunities in Bhopal, Dehradun and other regions for the company.

The Collage group is also planning a mall in Jalandhar and Amritsar. The company has got approval from all the state's department for developing a mall in Jalandhar while for the Amritsar project, it is in process.

The company's upcoming Viva Collage Mall in Jalandhar, is designed by RSP Akitek of Malaysia. It would be spread over 3.3 acres and would boast of multiplex, retail and entertainment complex and the mall is expected to be ready over in April 2009.

While the Viva Collage mall in Amritsar is a sprawling 600,000 square feet retail, leisure and entertainment centre is expected to be ready by October 2009. It has been designed by Zachary design of the UK and brings together the best of Indiaof Indioan architechtural tradition and retail offerings. Both the malls would have an investment of Rs 400 crore and would be funded through internal accurals, debt from banks.

The ethnic architechtural theme has been reinforced by the retail and merchandise mix that represents the finest in Indian craftsmanship like shawls, jewellery, carpets, embridery etc.

Speaking to Business Standard, Amit Khaneja, vice-chairman of the Group, said, " Already 80 per cent of the space in the proposed mall(Jalandhar) is leased out to some of the most respected names in Indian retail. On the lower ground floor, a 100,000 square feet hypermarket from the Aditya Birla Retail Ltd would be opened. An agreement has been signed with Dubai's Life Style chain Landmark fashion for the fashion conscious."

Khaneja said their projects would enjoy 10- year entertainment tax exemption for multiplexes.

He informed that the company is waiting to receive formal nod from the state government for the Amritsar mall, which would be spread over 600,000 square feet. Also the company has plans to develop a housing project in Amritsar spread over 10 acres with an intial investment of Rs. 100 crore.

Commenting upon future upcoming projects, he said, " We have plans to put up a mall in Patiala, apart from from that we have also plans to retail destination in Bhopal, Dehradun, etc. Already we have engaged Technopak Advisors Private Ltd- India's leading retail consultants to conduct a reasearch in these cities about retail opportunities."