US based J.J. Gum­berg to launch largest mall in Pun­jab

VM&RD - - WASSUP! -

USA based J.J. Gum­berg Co, a third-gen­er­a­tion global real es­tate De­vel­op­ment Com­pany in al­liance with Sun Apollo Real Es­tate Pri­vate Eq­uity Fund, will be in­tro­duc­ing the largest mall of Pun­jab at Mo­hali called the ‘North Coun­try Mall’ ex­pected to be launched in Oc­to­ber. The North Coun­try Mall is the com­pany’s first pro­ject out­side US and is part of the group’s $7 bil­lion in­vest­ment plan for In­dia. In al­liance with Sun Apollo real es­tate pri­vate eq­uity fund, J.J. Gum­berg Co is in­vest­ing more than Rs 800 crore to de­velop this shop­ping des­ti­na­tion. Ad­di­tion­ally, there are some 30 projects in the pipe­line en­tail­ing an in­vest­ment of $ 7 bil­lion over the next 7 years. “We hope to change the re­tail par­a­digm in In­dia for decades to come,” said B Anan­thara­man, Man­ag­ing Di­rec­tor and CEO, Gum­berg In­dia. He fur­ther added, “Each of Our Malls would have the best in class – World class de­sign, pos­i­tive am­bi­ence and func­tion­al­ity and sheer cus­tomer de­light. The Com­pany is in­ject­ing over USD 5 bil­lion to cre­ate, own and man­age up-to 30 re­gion­ally dom­i­nant Malls an­chored by the lead­ing do­mes­tic and for­eign ten­ants.” Spread over 1.8 mil­lion sq ft, the mall will also il­lus­trate ten an­chors, four cus­tom­ized shop­ping lev­els with over 280+ re­tail units hav­ing mix of in­ter­na­tional, na­tional and re­gional brands which in­clude Marks and Spenser, Re­liance Hyper­mar­ket, PVR mul­ti­plex, Life­style, FCUK, Es­beda, Tres­mode, Madura In­ter­na­tional Brands, Eske, Jack &Jones, Ap­ple, Adi­das, Calvin Klein, Cen­tral, Heel & Buckle, Paris Hil­ton amongst many more. The renowned U.S.-based ar­chi­tects, TVS De­sign has been as­signed to de­sign the space. The over­all mall con­cept demon­strates western style, with an em­pha­sis to cre­ate a uniquely fun and ex­hil­a­rat­ing shop­ping ex­pe­ri­ence, fea­tur­ing dis­tinc­tive and invit­ing store­fronts, and eye-catch­ing ar­chi­tec­tural el­e­ments, high ceil­ings, wide cor­ri­dors and mul­ti­ple points of ac­cess along with ad­e­quate park­ing for cur­rent and fu­ture needs. Placed on NH-21, the Mall will show­case 375 ft of frontage with in­tent to make it a dis­tinc­tive land­mark. Speaking on the se­lec­tion of des­ti­na­tion, Anan­thara­man shared, “We also ex­plored Am­rit­sar and Lud­hi­ana but de­mog­ra­phy and in­fra­struc­ture did not sup­port it as FDI re­quires min­i­mum 50000 sqmt an area tough to find in these cities.” Fol­lowed by Mo­hali, sim­i­lar projects will soon start in Na­tional Cap­i­tal Re­gion along with the Gur­gaon Dwarka Ex­press way, Ban­ga­lore and Hy­der­abad

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