It is going to be the mother of all malls. An 18 lakh square feet shopping sprawl — in which more than seven Atria malls can squeeze in — is coming up at Mumbai Textile Mill in Lower Parel.
This will be the biggest mall in the city. The only other malls that could be a close second are coming up in Kurla and Dahisar, measuring 16 lakh square feet each.
After mulling over plans for a software park, hotel, residential complex and a contemporary urban park, the DLF Group-Akruti Nirman combine, which is developing the mill, decided to exclusively go for retail space. The 17-acre mill was sold to DLF for a whopping Rs 702 crore by National Textile Corporation in 2005.
Retail experts said investment in retail brought maximum returns in the long run. With developers reportedly pumping in more than Rs 800 crore, retail was an obvious choice. While DLF is silent about the plan, architect Hafeez Contractor, who is doing the design and layout, said the mall would be an environment-friendly shopping destination with a difference. It would also have a multiplex and food courts.
“We are also ensuring that there is lots of green space,” said Contractor.
While digging has begun at the Mumbai Textile Mill site, retail industry sources said the project developers were in the last leg of talks with shopping, entertainment and retail consultants for tie-ups with a range of brands and ultiplex chains.