Portfolio
Pune, Maharashtra : Market City
1
Project Details:
Development Partner : Atlas Hospitality Company Private Limited
 
Investment Details:
Investment Date : November 2007
Capital Committed : EUR 5.15 million
Equity stake : 20%

Project

The project is located on Nagar Road, in the heart of the Pune's IT corridor and is a part of the Market City project in which Yatra has invested. It involves the development of a proposed premium hotel and serviced apartments. It will have approximately 318 hotel rooms and 96 serviced apartments, with a total Developable Area of approximately 300,000 sq.ft.. The hotel structure will be constructed above the retail portion of the mixed-use development. The management of the hotel would be undertaken by a hotel operator of international repute.

Market City is positioned as a destination offering a variety of shopping and leisure experiences -a hypermarket, multiple department stores, a home store, a multiplex, food courts and restaurants, an entertainment zone including bowling alleys, night clubs and video arcades, as well as branded stores set in the midst of a landscaped environment.

The complex is being designed by Hong Kong based architectural firm Benoy which also designed Bluewater one of Europe's largest shopping centre.

Development Partner

Atlas Hospitality Company Private Limited is the hospitality arm of the Phoenix Mills group, a leading real estate development company, specializing in the construction of retail malls and mixed use projects across India. Phoenix Mills developed one of Mumbai's premier retail destinations, "High Street Phoenix" a 2.5 million sq.ft. integrated mixed-use development comprising of residential, commercial and retail space. Phoenix is replicating this highly successful concept in 14 cities with a developable area of 54 million sq.ft. over the next four to five years.

Copyright 2008 yatracapital.com . Designed By : Idealake