Portfolio
Market City, Agra
1
Project Details:
Asset Class

Development Size
: Retail
600,000 square feet
Yatra's Commitment : EUR 3.89 million
Location : Agra, Uttar Pradesh
Development Partner : The Phoenix Mills Limited & Big Apple Real Estate Private Limited
Investment Date : November 2007
Equity Stake : 28%

Project

Home to the Taj Mahal, Agra is a historic city dating back over 400 years. The city attracts around two million visitors each year and a significant part of the 1.3 million local population is employed in the service sector catering to tourists. The city is also a robust manufacturing hub for leather products and iron-ware.

To cater for growing local consumption as well as the tourist population, Yatra has invested in Market City, Agra, a 600,000 square feet destination retail mall, with hypermarkets, departmental stores, brand stores, and entertainment and dining options.

The site is located on Fatehabad Road which also has prestigious hotels such as The Mughal Sheraton and The Oberoi Amarvilas. Located in Taj Nagri, the project site a large planned residential and commercial layout being developed by the city government as an alternative corridor to decongest the city.

The mall's attraction will be a traditional high street bazaar selling souvenirs and local artefacts. The design of the mall will integrate the traditional style of local architecture while retaining contemporary functionality.

The master plan has been designed by the Mumbai based P G Patki Associates, a leading architect and planner for retail malls in India.

The Phoenix Mills Limited and Big Apple Real Estate Private Limited are the development partners for the proposed development. The Phoenix Mills Limited is a leading real estate development company specialising in the construction of retail malls, hotels and mixed use projects across India. Big Apple Real Estate Private Limited, is currently building retail malls in several cities in north India.

Key Highlights

  • The project site is located two kilometres from the Taj Mahal on a main thoroughfare of Agra city.
  • The site is part of the up market tourist and retail corridor which will help increase footfall.
  • The architecture and tenant mix of the mall will be key differentiators for the project.


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