Phoenix Mills started operations as a textile mill company and gradually forayed into real estate with a focus on retail, commercial and entertainment segments in tier I and tier II cities. Located at Lower Parel, Mumbai, High Street Phoenix (HSP) was the first property developed by the company. Spread over 1.5 million sq. ft, the complex houses commercial, residential and entertainment properties.
In December 2007, Phoenix bought 74% stake in Big Apple that owns the United Malls in Uttar Pradesh. Big Apple will build malls in North India under the brand ‘Phoenix United’. Phoenix also acquired 40.28% stake in Indore based EWDPL through a combination of cash infusion and merger of certain entities that held equity in the company. EWDPL operates malls under the ‘Treasure Island’ brand in Tier II cities. Presently there are 24.7 million sq. ft projects under construction including the projects under Big Apple and EWDPL in Mumbai, Bangalore, Chennai, and Pune.
GROWTH STRATEGY: Phoenix has 6-lakh sq. ft of leased area and is expected to ramp it up to 9.5-lakh sq. ft by the end of FY10. Its key tenants include Lifestyle, Big Bazaar, Pantaloons, Mc Donalds and PVR Cinemas. The company is now developing market city with total built-up area of 9 mn sq feet. Coming up in Mumbai, Pune, Bangalore and Chennai, it would be operational in phases starting June 10. The project include retail, hotel, residential and commercial developments. All these projects are under special purpose vehicles (SPV) for which funding has been tied up. The company would earn in the form of dividend income. The company also plans to develop a 419 -room hotel in Mumbai under management contract with Shangri La brand. The hotel is scheduled to be operational by Dec ’11. Going forward, Phoenix plans unlock some value by list ing EWDPL separately.
More : economictimes.indiatimes.com
Send an E-Mail for mumbai Property Enquiry!
Related News from Mumbai
A to Z Business Centre
A to Z Business Centre is a location in Mumbai in India. If you have seen A to Z Business Centre , then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about A to Z Business Centre is important to us. Please provide you comment / review / article on A to Z Business Centre in Mumbai below.
Business Standard Pvt Ltd
Business Standard Pvt Ltd is a location in Mumbai in India. If you have seen Business Standard Pvt Ltd , then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Business Standard Pvt Ltd is important to us. Please provide you comment / review / article on Business Standard Pvt Ltd in Mumbai below.
Anthonys Business Center
Anthonys Business Center is a location in Mumbai in India. If you have seen Anthonys Business Center , then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Anthonys Business Center is important to us. Please provide you comment / review / article on Anthonys Business Center in Mumbai below.
Apsara Business Centre
Apsara Business Centre is a location in Mumbai in India. If you have seen Apsara Business Centre , then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Apsara Business Centre is important to us. Please provide you comment / review / article on Apsara Business Centre in Mumbai below.
Hallmark Business Plaza
Hallmark Business Plaza is a location in Mumbai in India. If you have seen Hallmark Business Plaza , then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Hallmark Business Plaza is important to us. Please provide you comment / review / article on Hallmark Business Plaza in Mumbai below.