Sharing this article which appeared in ET Realty
BENGALURU: Sobha Limited has forayed into commercial real estate with the launch of first retail project in Thrissur, Kerala. The company has so far focussed on residential development mostly in the Southern part of the country.
Sprawled over five acres, ‘Sobha City Mall’ is part of an integrated township in the State, has a built up area of approximately 4,50,000 sq. ft. comprising of three floors of shopping. Further, the Mall is suitably located on the Thrissur- Guruvayoor State highway, making it effortlessly accessible from Kochi, Calicut and Palakkad and other neighbouring districts.
Ravi Menon, Chairman, Sobha Limited, said, “Thrissur has immense potentialities as a centre of trade and for being a banking hub. It is one of the most well- known markets for gold in India with thriving trade in textile.”
The ‘Sobha City’ township – in which the mall is located is spread over 55 acres. It comprises 720 apartments of which 432 are 3BHK, 288 are 4BHK, 48 villas and 4 exclusive bungalows. 432 apartments, 28 villas and the clubhouse have been handed over to the occupants. A total of 1.18 million sq. ft. residential development has been handed over to the customers within the agreed handing over period. It is a unique development in Thrissur and one of the best examples of sustainable design.
In the last 20 years Sobha has built a premium reputation for quality, aesthetics and timely delivery in the residential and contractual space. “Thrissur has a vibrant atmosphere for organised retailing and we hope to scale up our operations in this space in the coming years,” said Menon.
The ‘Sobha City Mall’ will have over a 100 acclaimed brands – Lifestyle, Pantaloons, Van Heusen, Allen Solly, Peter England, Wills, Wrangler, Hidesign, Crocodile, Arrow, Louis Philippe, Lee Cooper, John Players and Subway to name just a few.
“Traders and business people in the State of Kerala sell goods worth Rs. 1200 crore a day. The State accounts for 22% of total non-resident Indian (NRI) remittance to India; especially Chavakkad in Thrissur district has one of the highest numbers of NRIs,” said Menon.
Apart from these Marks & Spencer and Apple will also have exclusive outlets here. On the entertainment front, the mall houses Inox cinemas- the first multiplex in Thrissur, with 6 unique theatres having a capacity to accommodate around 1400 people at a time. The 550-seater food court consists of 15 counters of Indian and international brands of various cuisines.
Additionally, Thrissur is the fourth largest city and the third largest urban agglomeration in Kerala. Furthermore, Thrissur has steadily emerged as the commercial hub for retail, real estate, Ayurveda and banking & financial services. Today, Thrissur City is also referred to as the Golden City of India as it manufactures 70% of plain gold jewellery in Kerala.
Sobha Limited, a Rs. 25 billion company, is one of the fastest growing and foremost backward integrated real estate players in the country. The Company’s residential projects include residential apartments, villas, row houses, super luxury & luxury apartments, plotted developments and aspirational homes. On the contractual projects side, the Company has constructed a variety of structures for corporates including offices, convention centres, software development blocks, multiplex theatres, hostel facilities, guest houses, food courts, restaurants, research centres, and club houses.