Smart city Bhubaneswar has planned to have its biggest-ever shopping mall ‘Esplanade’ at Rasulgarh by March 2018.
Kolkata-based Forum Group has firmed up an investment of Rs 500 crore to build the biggest mall of Bhubaneswar. The mall would be spread over 0.9 million sq ft and would have a built-up space of 450,000 sq ft.
The project, termed ‘Forum Esplanade’, is coming up at Rasulgarh – one of the strategically located areas in the city and is being built by Leighton, a major construction and contracting company based out of Australia. It would house around 150 operators in sectors like retail, food and entertainment.
Further, the mall would count Mexican multiplex chain Cinepolis as one of its key anchor tenants. Cinepolis has committed a seven-screen multiplex with a seating capacity of 1,250. Retail chains like Lifestyle, Max and Home Centre would also set up shop in the mall complex.
“The Forum Esplanade project is expected to be completed by March 2018. By June this year, we are hopeful of finalising the leasing space for the mall,” said Rahul Saraf, managing director, Forum Group.
Rasulgarh is an industrial area housing a number of companies and their employees residing in its surroundings. The group’s assistant vice-president (sales and marketing) Ranjit Mallik said Esplanade mall would have the biggest food court and a hypermarket of the city.