K Raheja Group plans Inorbit Mall in Vizag with `600 crore
The mall will have a built-up area of six lakh square feet and will become operational in three years
Visakhapatnam Vizagites and those frequenting the city will have a world-class shopping experience with the Inorbit Mall beginning work to launch a new mall on a site provided by Visakhapatnam Port Authority (VPA) under the port monetisation scheme.
K Raheja Group is establishing Inorbit Mall with an investment of Rs 600 crore in an area of six lakh square feet. It will become operational in three years. This will be the first Inorbit Mall in Andhra Pradesh.
"Get ready Vizag! We are thrilled to announce an incredible journey that will redefine your shopping and leisure experience," Inorbit Mall stated in a tweet.
It said "stay tuned as we bring you updates on this exciting journey. The future of retail and entertainment in Vizag starts here."
Though Visakhapatnam at present has seven malls in different locations with a total area of 1.75 lakh sqft, Inorbit Mall itself will have six lakh sqft at Saligramapuram which once housed the quarters of VPA.
During his visit to Andhra Pradesh, K Raheja Group President Neel Raheja called on Chief Minister YS Jagan Mohan Reddy at the latter's camp office at Tadepalli near Vijayawada on Tuesday along with CEO of Inorbit Malls Rajanish Mahajan and COO of K Raheja Group for AP and Telangana regions G Sravan Kumar and invited him for the foundation stone-laying ceremony in Visakhapatnam.
Sources said the group is also planning to invest in a project at Madhurawada IT Special Economic Zone here. Representatives of K Raheja Group and also discussed more investment proposals with the Chief Minister. IT and Industries Minister Gudivada Amarnath and APIIC Managing Director Praveen Kumar were present.
Though the erstwhile Telugu Desam Party Government had allotted 13.83 acres at a prime location in the city with a beachfront view to UAE-based LuLu Group for construction of an international convention centre, world-class shopping mall and a five-star hotel, the project was scrapped by the YSRCP regime through an executive order in 2019.Once operational, Inorbit Mall will provide a big boost to those interested to enjoy shopping experience by frequenting various retail outlets under one roof.
