IndiaRetailBiz

Inorbit Malls (India), launched its Rs 300-crore, destination mall, in Cyberabad on Wednesday, the 14th October, 2009.

The new mall, located at Mindspace, is the third such mall property of Mumbai-based construction major K. Raheja Corporation. The other two In-orbit properties are located at Malad in Mumbai, and Vashi in Greater Mumbai.

The mall, as to be expected, houses ‘Hyper City’ and ‘Shoppers’ Stop,’ as its anchor tenants. The two hypermarket and deprtment store format retailers are also part of K Raheja group. “Lifestyle” — the Dubai-based up-market, lifestyle, retailer– is the the third anchor tenant of the mall. These three tenants account for majority of 1.2 million sq.ft built-up space of Cyberabad mall, which boasts a three level car perking facility for 1,300 cars. In-orbit has also tied up with Cinemax to set up six screens with a capacity to sit 1,000 persons.

All the In-orbit malls are being designed to serve as destination stores. These properties like most similar destinations will also offer a combination of leisure, entertainment, and shopping in the form of entertainment zone, night club, food courts, and retail shops. Each property is expected to house around 150 retail stores.

The group, according to Kishore Bhatija, its Chief Executive Officer for Inorbit Malls, is also constructing three more such properties in other large cities at an investment of Rs 600 crore.

The first of such properties will come up at Pune in August 2010 followed by another property in December 2010 at White Field in Bangalore. The third property is being built at Vadodara in Gujarat.