Express Avenue, which is being flaunted as South India’s largest shopping mall cum commercial and hospitality complex, a project of 1.8 million sq. ft. worth Rs.750 crore,which is being developed at Chennai will be getting ready by April 2010.
“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.
He added that 64% of the space has already been rented out, whereas negotiations for the rest are under progress.
“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 Satyam Cinemas for running eight theatres inside Express Avenue.