Omaxe develops multiplex

                                                                                         

Patiala is all set to have first shopping mall. The shopping mall that is likely to completed by April next year would have 150 shops, three food courts, a 50 -room hotel with swimming pool, a banquet hall and four screen multiplex cinema hall.

The multiplex cinema has already been acquired by Shingar Cinema company. It would introduce the concept of cinema in Patiala.

The shopping mall is being brought up by Omaxe in partnership with a local land owner. DGM of the company Sanjay Sharma told The Tribune that 4.70 lakh sq feet constructed area includes 1.20 lakh sq feet area for parking.

The fully air-conditioned shopping mall with facilities as capsule lift and escalators would be first of its kind in the region. Already 80 per cent of the shops in the upcoming mall have been sold, he claimed.

The ultra-modern shopping mall is likely to affect the trading business, especially the retailers in Patiala city is big way. Experts opine that malls are the future of marketing and may have some adverse affect on the earnings of the small retailers.

A few of the retailing marketing chains, being floated by the corporates, are also likely to open stores in the new shopping mall of Omaxe. Retail marketing chains can offer goods to consumers at minimum margins as they are eliminating the concept of middlemen.

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Source: IndiaRealEstateblog

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