Mall developer and operator Phoenix Mills Ltd., opened Phoenix Citadel, a 10 lakh square feet mall at Indore in Madhya Pradesh with an investment of Rs 800 crore.
The new facility is spread over 19 acres of land and is the largest in central India as per the company.
The main building of the mall sits amid 10 lakh square feet, groups Chief Finance Officer (CFO) Anuraag Srivastava told reporters here. The mall has 300 shops that are expected to transact business worth Rs 1,000 crore by next year. It has 16 anchor stores including Marks and Spencer and H&M. The mall also has six mini anchor brands and 253 large in-line stores.
The new property launch takes the count of total malls in Phoenix to nine. Srivastava added that in the next couple of months Phoenix is going to open three new malls in Ahmedabad, Bengaluru, and Pune.
Phoenix’s mall in Bengaluru, the Phoenix Mall of Asia, is expected to open in 2024 and will house a raft of swish luxury brands including Armani/Caffè, which will occupy 1,000 sq. ft. in the mega mall.