Unitech To Build 48 Malls In 6yrs

New Delhi: Unitech will infuse Rs 20,000 crore to develop 48 malls and shopping centres across the country in the next six years. Unitech currently has a mall each in Noida and Delhi. After the proposed expansion, the number would reach 50 by 2013. The company mulls to build over 60 million sq ft of retail space under the proposed plan. To begin with, the company will target metros and major state capitals for their retail expansion and would gradually move to tier II and tier III cities. Of the 24 malls and shopping centres planned in the first phase, 18 are at the design stage, while the construction work has began on six malls. The company will build malls and shopping centres in the National Capital Region, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad, Chandigarh, Dehradun, Lucknow, Bhopal, Goa, Vizag, Bhubaneshwar, Kochi and Trivandrum. The mall in Chandigarh would also have an entertainment park, while a convention centre would be built in the one developed in Kolkata. The company would follow a similar model for other malls.