Pune: With the acquisition of 1 million sq. ft Koregaon Park
Plaza Centre for Rs 250 crore, Nitesh Estates, a Bangalore-based premium
property developer, has announced its entry into Pune real estate market.
With this acquisition 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.
An A grade shopping mall spread over 6 acres in prime
upscale locale of Koregaon in Pune, 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, a company release said.
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