Chennai, September 01: The first phase of the 1.8 million sq. ft. Rs.750 crore Express Avenue, billed to be south India’s largest shopping mall cum commercial and hospitality complex, is expected to be ready here early next year.
“The first phase will have 11 lakh sq.ft. retail space and will house about 260 retailers – anchor retailers like Lifestyle, Future Group – and others, food court, multiplex theatres,” R.R. Aroonkumar, chief financial officer of Express Infrastructure Pvt Ltd, told IANS Tuesday.
According to him, 64 percent of the retail space has been booked and negotiations are on for the rest.
“There is cautious optimism now and we are confident of booking the balance space. The second phase will comprise of commercial office space and hotels which will start after the first phase gets stabilised.”
Express Infrastructure has signed an 18-year multiplex theatre lease agreement with Sathyam Cinemas for running eight theatres inside Express Avenue.
–Agencies