Riding high on the retail wave, city-based Lanco Hills, the realty arm of infrastructure firm Lanco Infratech, has said it will construct a shopping mall in the city with an estimated investment of Rs 500 crore.
The proposed mall, claimed to be the largest in south India, is expected to be completed in the next 30 months.
Christened ‘The Lanco Hills Mega Mall,’ the mall will have a 12-screen multiplex, premium shopping options, right-out-ofa- fantasyland type gaming zones, roof gardens, fine dining options, hypermarkets.
It will include multi-level parking space for 5,000 cars.
“The mall which will be the largest in South India in terms of built-up area, as well as largest number of shopping outlets and entertainment options under one roof, is expected to be completed in the next 30 months at an investment of Rs 500 crore,” Lanco said in a statement on Friday.
According to Lanco, which is saddled with a debt burden of approximately Rs 32,000 crore as of Septemer, he upcoming mall will particularly have an exclusive exhibition and a grand convention centre along with well-lit interiors, cascades, delicate fountains and gurgling water bodies will host events.
One of the main attractions of the mall would be its the gaming zone with a 14-lane bowling alley, extravagant indoor rides for kids, besides table top and electronic games.
A specially designed Go-karting rink shall be a highlight of the gaming and entertainment zone.
“With a walking length of over 2 km, the mall aims to provide a one-stop destination to customers with everything from necessities to leisure and celebration,” said Pochendar Shenigarapu, CEO, Lanco Hills.
It may be mentioned that Lanco Hills, which is currently building a residential complex and an IT SEZ in a 100-acre land near Manikonda, also announced an ambitious project to build the world’s largest residential towers in 2006-07. It is yet to commission the project.