BWI: Nitesh Estates Acquires Pune Shopping Mall for Rs. 250 crores

Source : Nitesh Estates Limited Thursday, May 14, 2015 11:18AM IST (5:48AM GMT)   Nitesh Estates Acquires Pune Shopping Mall for Rs. 250 crores Nitesh Estates Shopping Mall portfolio is now 2.2 million sq. ft   Pune, Maharashtra, India Bangalore based premium property developer; Nitesh Estates today announced its entry into the Pune market. With the acquisition of 1 million sq. ft., the Koregaon Park Plaza Centre an A grade shopping mall, spread over 6 acres in prime upscale locale of Koregaon in Pune, Nitesh Estates has achieved yet another milestone in its decade old presence in India. With this acquisition the Nitesh Estates shopping mall portfolio is now 2.2 million sq. ft. They are currently developing 1.2 million sq. ft. shopping mall in the upmarket locale of Indiranagar in Bangalore.   The Koregaon Park shopping mall can accommodate 130 retail stores, an extensive food court and can house around 1000 cars in the parking space. The mall already has a PVR cinema with 7 screens and Spar supermarket along with brands like Tommy Hilfiger, Collective, M.A.C, Calvin Klein, U.S. Polo Assn., Swarovski and Crossword.   Ashwini Kumar, Executive Director & COO, Nitesh Estates said, “Over the years, Pune has emerged as an important real estate market. We are delighted to acquire this top quality asset and build our shopping portfolio. Koregaon Park shopping mall is undergoing a refurbishment and will soon sport a new food court in addition to fine dining restaurants. The changes will take place while the mall remains operational. Nitesh Estates plans to bring their legacy of design driven and cutting edge facades fashioned by one of the best architects for the mall makeover.”   About Nitesh Estates Limited   Founded by entrepreneur Nitesh Shetty in the year 2004, Nitesh Estates is a leading integrated property development company headquartered in Bengaluru. The company provides world-class products and services and has presence across four asset classes, Homes, Hotels, Office Buildings, and Retail Spaces.   Since inception, Nitesh Estates has created a niche for itself by pioneering some of the finest real estate projects in the cities of Bangalore, Chennai, Goa and Kochi. Nitesh Estates currently has 20 mn. sq. ft. under development. Superior quality, attention to detail and perfection are the standards that every Nitesh project exudes.   Nitesh Estates own India’s first Ritz Carlton Hotel, a 277 rooms luxury five star hotel in downtown Bangalore.   To learn more, visit http://www.niteshestates.com   Media Contact Details Smita Banerjee, MSL GROUP, ,+91-9972532263 , smita.banerjee@mslgroup.com   KEYWORDS: Business/ Finance:Advertising, PR & marketing, Construction & Property, Real Estate, Retailers;General:Consumer interest, Fashion, Lifestyle   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. To unsubscribe or modify your Business Wire India settings, please visit your profile page on Business Wire India. Connect with us on: Facebook | Twitter | Google+

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