Building edifices

Mr Ashok Bansal, Director Suncity Projects Ltd, talks about the company’s projects in an interview with Retailer

Retailer: Brief us about Suncity Projects.

Ashok Bansal (AB): Since its inception in 1996, Suncity Projects (P) Ltd has created a special place for itself in the realty sector of the country. Suncity Projects (P) Ltd is a young and dynamic real estate company which stands confidently among the top realty companies of India. The company has built edifices of the next century with the expertise of some of the well known corporates from the Indian business skyline. As of now, Suncity is involved in almost all major real estate projects.

Suncity has now ventured into infrastructure development as well, through its subsidiary Siti Energy. With this, the company has now become a complete 360 degree real estate conglomerate.

Retailer: What is your criterion for selecting the location of the construction of a mall?

AB: Whichever projects we have done or are in the process of executing, undergo a detailed study of the area and demographics of the area that makes us understand the local taste and the requirement of the area. Typically, we look for a place that has a good catchment area, is easily accessible, has good visibility, etc.

Retailer: Can you elaborate on 'Jewel of India'?

AB: ‘Jewel of India’, is a unique retail concept, set to revolutionise the retail sector in the country. With an investment of approximately Rs 2,000 crore, ‘Jewel of India’ is touted to be next retail heaven of India, quite justifying its punch-line ‘A world in a city’. It is a pioneering concept aiming to change the realms of the real-estate industry and will be a one-of-its-kind destination that promises to offer retail, office spaces, and hospitality and entertainment options. The projects will be spread across India in Mohali, Greater Noida and Indore, besides Jaipur (the first of the series) - work for which has already started.

Retailer: How do you calculate the completion-time of your malls? How much time do you allocate to the various phases of construction?

AB: There are basically 4 phases of construction

• Excavation
• Structuring
• Interior and exterior
• Final finishing

It usually takes us 2 to 3 years to build a mall. However, the time period also varies depending on the project.

Retailer: What is the procedure of deciding on an anchor and further on the retail mix in the malls?

AB: You can find various world renowned brands and prominent anchor tenants in our malls, which ensures best footfalls. Some of the prominent brands of the country like Shoppers’ Stop, Lifestyle, Pantaloons, Westside, Big Bazaar, HyperCITY, etc. are our anchor tenants. FUN Cinemas, one of our sister concerns takes care of the cinemas in all our retail projects.

Retailer: How do you ensure mall competitiveness and the success and longevity of a mall?

AB: Mall competitiveness is ensured by our unique architecture and designing. Jewel of India has been designed in a crescent shape which provides each retailer a chance to see all the footfalls. This also ensures that there are no dead ends and loops.  The location of the malls along with a lethal combination of quality retail mix, hospitality and entertainment ensures that the mall stands out in the clutter.

Suncity is committed to its mission of bringing success to our community and to work with integrity, morality and quality; the vision of the company is to bring a revolutionary change in the real estate industry by providing high class products, with international standards of quality. To accomplish this mission, Suncity has the leadership of a young and energetic board of directors coupled with experienced heads.

Retailer: Do you make use of special agencies in mall management, leasing, ensuring footfall, etc.?

AB: We have EPMS as our mall management agency that also takes care of the promotional activities to ensure a good footfall. Leasing of shops is being taken care of by Suncity itself. We also take help from IPC and National Consultants for the same.

Retailer: What precautionary measures do you take to ensure the security and safety of your mall?

AB: Our security measures are in tune with international standards and we also meet all the norms of GOI regarding safety standards.

Retailer: Which are your current ongoing projects?

AB: Our ongoing projects are Essel Tower, North Square Mall, Cross River Mall, Vasant Square Mall, Triton Mall, Jewel of India ( Jaipur) and Time Tower.

Retailer: How many malls are you coming up with in the near future? Which are the cities that you are targeting?

AB: ‘Jewel of India’ will be spread across India in Mohali, Greater Noida and Indore, besides Jaipur. Other than this, we are also coming up in places like Raipur and Barailley.