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Suncity Projects (P) Ltd, India`s leading real estate developer recently launched one of its ambitious projects `Jewel of India`. A pioneering concept, it aspires to change the realms of the real-estate industry. Ashok Bansal, shares his vast experience a
Suncity Projects (P) Ltd, India`s leading real estate developer recently launched one of its ambitious projects `Jewel of India`. A pioneering concept, it aspires to change the realms of the real-estate industry. Ashok Bansal, shares his vast experience and knowledge about the dynamics of the construction and real estate industry.
The Franchising World (TFW): What is Suncity projects?
Ashok Bansal (AB): Since its inception in 1996, Suncity Projects (P) Ltd has created a special place for itself in the realty sector of the country. Suncity Projects is a young, dynamic and futuristic real estate company which stands confidently among the top real estate companies of India. Leaving behind the age old traditional designing patterns and clichéd architecture, Suncity incorporates a modern and stylish look in all of its structures, which matches the requirements of today`s society.
The operational projects of the company consist of the Cross River Mall and the North Square Mall. The Vasant Square mall is partially operational.
TFW: What was the ideology behind the launch of `Jewel of India`? What is its USP?
AB: Jewel of India (JOI) will be a chain of malls which will be mega properties with humungous land area, 5 star hotels, business spaces and amphitheatres. The first JOI will be coming up in Jaipur and will cover an area of 40 lakh sq. ft. It will be operational by 2011. The JOI project will be spread across India in Mohali, Greater Noida, Bareily and Raipur. It is based on an eco friendly concept, specially keeping in mind parking and circulation. Its huge area and astonishing brand mix is its USP. It has every thing- right from top of the line retail brands to all ethnic offers of the particular city.
TFW: Which brands are present in your malls and who are the anchor tenants?
AB: You can find world renowned brands and prominent anchor tenants in our malls that ensure maximum footfall. Some of them are Shoppers` Stop, Lifestyle, Pantaloons, Westside, Big Bazaar and Hypercity. FUN cinemas are one of our sister concerns which takes care of the cinemas in all our retail projects. We also have a gaming zone called Viking.
TFW: What are the expansion plans of your company?
(AB): We have planned about 10 JOIs and have already acquired land for JOIs in four cities. Every project will be spread across at least a three million sq. ft area. The company will be coming up with Triton Mall soon. Apart from retail, we will deliver 4 large townships totaling more than 1500 acres of land. The company will deliver 10 million sq. ft of commercial space and some group housing and SEZ projects. With a massive land bank of 4000 acres many new ventures are being planned. So far North India has been the prime destination but we are focusing on other destinations as well.