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Parsvnath Developers Ltd has announced the launch of its 5- star hotel and Multiplex-cum-Commercial Mall project in Vejalpur, Ahmedabad on March 16, 2007. This marks the opening of bookings for commercial space in the coveted upcoming property.

The plot is situated in the heart of the city on 100 feet-wide road. It will have a 5 Star Hotel, Commercial Mall and Multiplex. The project worth Rs 250 crores is spread over a total area of 22,365 sq metres. Mr. Mohit Gujral, the leading architect from New Delhi has conceptualized the complex that will have around 5 lakh sq.ft. built-up area. The entire complex for which the construction has commenced is expected to be completed and operational with in two and a half years.

The state-of-art project would match any internationally acclaimed mall in terms of features and amenities - a world-class construction format, landscaping, high-speed advanced lifts, escalators, huge parking facility, fire monitoring and control mechanism, CCTV surveillance, etc. The mall would have the presence of the best of brands, elaborate food-courts, acclaimed restaurants / food chains, etc.

Mr. Ashim Gandhi, Chief Operating Officer Gujarat & Strategic Planning of the Company, "The Commercial Mall would be a one-stop shop for premium segments of the society; it would house most of the renowned brands of not only India, but, from across the world. There is a tremendous potential for a large footfall considering the facilities, location and the brands expected to set up shops in the mall. The package of a 5-Star hotel, multiplex and mall would provide for an exhilarating experience for the consumer. If the response we are receiving from the top brands of the world is anything to go by, this project would mark the turning point for the region in this sector."

Already, a number of well-known retailers have booked space in the mall. Also, the Company has tied up with Movietime Cineplex Pvt Ltd who already have multiplexes in various parts of the world to manage the multiplexes. A number of international and reputed Indian Hotel chains are in talk with Parsvnath for running the 5-Star hotel.

Source: Equity Bulls