Transit One: Heralding the concept of theme-based malls in Mangaluru

[email protected] (Business Desk)
February 19, 2016

Mangaluru: Whether we like it or not malls have become more of a norm than an exception in India. The only visible change is that from big multilevel malls the focus is slowly shifting towards smaller and theme based malls, which no doubt is a welcome development.

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Mangaluru is also fast catching up with this trend thanks to the initiative taken by Ecologic Habitats LLP, a well-known real estate firm comprising of a team having over 30 years of experience in the field. This real estate leader, in association with Caizer group, is all set to introduce a theme based transit mall aptly named "Transit One." 'Stop, recharge, restart', is the basic concept theme of the mall coming up on NH66, opposite Unity Hall, just a stone's throw from the busy and upcoming Thokkottu junction. Being a transit mall its aim is to target both the local populace as well as the travellers passing through this busy highway.

Come November and the foundation for this smaller version of the mall, the first of its kind in Mangaluru, will be laid and the ground plus four storey mall will be ready in the next 2 ½ years. Slated to come up in a 40 cent land adjacent to NH-66, Transit One will be an affordable and egalitarian mall catering to the local demographic unlike the existing huge malls that cater only to a section of the society. Nevertheless, the promoters say "This is basically a stop-over mall where we want travellers to stop, recharge and restart. Size-wise it is not a huge mall but it will have everything that malls have. We will set new benchmarks with many firsts to the credit of this mall. We want to give shops to every category of people - those who come with an investment of Rs 10 lakhs to 10 crores. We believe that the design, location, structure, elevation and the novel concept of the project will make Transit One the most attractive destination of Mangaluru with unlimited opportunities to unwind and skylark.

Potential for Growth

The setting of this upcoming mall on Thokkottu Junction, which forms the gateway to Mangaluru City, is the USP of this project apart from its inimitable structure. It is designed to proclaim its enigmatic presence with an irresistible allure. The promoters have done a neat homework before venturing into this project. Needless to say, the project is the outcome of painstaking research of almost 1 ½ years which convinced the promoters that it is the best location and concept and they decided to take a plunge. One of the partners of the project says "We have conducted a detailed survey and found that this area forms the nerve centre of the city from its gateway Thokkottu, that connects the city to Deralakatte, the IT and education hub of Mangaluru. This hub houses about 7000 medical students, 1000 doctors, about 3000 IT honchos and more than 5000 NRI households. Sadly, the surrounding area does not boast of infrastructure, development and other entertainment facilities to cater to this vast segment of young, enthusiastic, passionate and cosmopolitan crowd. Our research has clearly shown that this area has enormous potential for growth. The fact that 40% of the shops are already sold clearly demonstrates that people have realised the strategic importance of this location."

Being a premium education and health care centre Mangaluru city has vast potential for growth to emerge as an important business, industrial and IT hub. It has been recognised as one among the 36 Tier II cities in India to emerge as magnets for investment in infrastructure. Smart city naturally means better infrastructure, amenities and enhanced lifestyle. Though mall culture per se is not a novelty in India the compact nature of this themed mall will be an added attraction as it has many others firsts to its credit.

Many Firsts

"Transit One" will be the first mall in the region to offer an exclusive floor for smaller vanilla store units.. The promoters point out "The sky-high cost of space in malls is a major concern for many and therefore we want to address this concern of people through this mall." It will be the first mall with External LCD display, the mall boasts of the primacy given to landscape design and it is the first mall built by making a comprehensive study of the requirements of the customers. They have roped in the services of India's leading Landscape Architect Rohit Marol of Terra Firma for its unique landscape. The suburbs are best suited for theme-based malls and having realised the great potential for development of this area the promoters have made valiant efforts to source the best names in varied fields.

Another salient feature of the project is the drive-in super market, a novelty in a mall, which makes shopping convenient and pleasurable, unlike the present set up in most malls which makes it a tedious process. The entire 1st, 2nd and 3rd floor is set aside for branded and semi- branded shops in varied categories of products. Having taken care of the shopping needs of both the travellers and domestic customers the promoters have also given utmost priority to the visitors gastronomic needs. Because in this age where eating out become fashionable, one cannot think of modern malls without food courts. Promoters of malls usually consider fine-dining restaurants as a quintessential factor to their overall tenant mix and they have been proved right. This is largely because these restaurants help give the exclusivity factor to the malls and also due to the fact that food is a major footfall driver towards malls attracting horde of families to savour variegated and choicest of cuisine available here. So much so, today malls are becoming repository of cost effective multi-cuisine food and entertainment destinations.

It is therefore, natural that the promoters of Transit One have given top priority to eating-out to allure customers. This mall will boast of food courts - a 3 star restaurant, a landscaped terrace roof top club and a multi-cuisine restaurant to cater to the cosmopolitan crowd of the surrounding area.

"Transit One" is conceived as a one-stop-shop mall wherein customers don't have to go anywhere else scouting for other shops to buy anything and everything they require. "We want this mall to cater to the needs of all segments of the society. Even if a woman wants to buy a bindi or a ribbon or a student wants to buy a book or pencil they don't have to look for another shop. We believe and endorse the idea of Small world of large Happiness", the promoters point out.

The promoters have sourced the services of the best names in the real estate field, to come out with this theme-based destination mall appealing in its design, eye-catching with its structure, attractive in its overall appearance and spacious and comfortable to stroll around with its theme-designed spaces. The services of leading Mangaluru based Architects 2PKM have been sought for this project. The combined effort of all trusted professionals in the project team is sure to give the true value for money to the investors.

Transit One has everything that is going to make it the most eagerly awaited mall of Mangaluru. True to its name the promoters want the travellers and the local crowd to experience the on-going journey of life via Transit One. With this mall going to become a reality soon, the young, educated and yuppie crowd of the academic hub of Mangaluru and people of Mangaluru can certainly look forward to for a place that is sure to come close to their dream destination.

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Branded and semi-branded shops

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Mini vanilla shops

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Three-star restaurant

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Landscaped food court

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Open terrace restaurant

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Exclusive supermarket

 

To book your space or for more details contact

Ecologic Habitats

Crystal Arc, 3rd Floor, Balmatta Road,

KMC Mercara Trunk Rd,

Hampankatta, Mangaluru, Karnataka 575002

Ph: 91 97410 70000 / 91 93420 71729

91 824 6066 666

Email : [email protected]

Website:http://www.ecologichabitats.com/commercialspace.html

Comments

Embee
 - 
Friday, 19 Feb 2016

Its all one thing to make things look good... mangalore real estate is just slumping... doesnt look like a great investment

Saleem Khan
 - 
Friday, 19 Feb 2016

Small Theatre should be there, Anyways good try all the best for your future endeavors.inshallah

Sameer Mohammed
 - 
Friday, 19 Feb 2016

will this beat Moideen Bava's Forum Fiza Mall ? Looks like this will be greenery Mall of Mangalore.

Farooq
 - 
Friday, 19 Feb 2016

wow wonderful themes based mall, i want to visit once, Tell me when its gone a complete.

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News Network
January 19,2020

Bengaluru, Jan 19: The long-awaited discussions on cabinet expansion finally took place between BJP national president Amit Shah and the state party unit on Saturday, but they produced no result.

Latest indications are that new members will be appointed only after CM BS Yediyurappa returns from Davos, Switzerland, on January 25.

The party held a close-door party meeting at a top hotel in Hubballi. The subject of expanding the cabinet, which currently has 16 vacancies, featured in the talks.

Earlier, Yediyurappa reportedly had a one-on-one with Shah during their 45-minute flight from Bengaluru to Hubballi. He is said to have insisted on accommodating all 11 newly MLAs in the cabinet. These legislators were earlier a part of Congress and JD(S); they contested the December byelections on BJP tickets and won.

This apart, BJP sources said, Yediyurappa and Shah had a brief chat at a private event at Palace Grounds . Separately, Shah, who is the Union home minister, held meetings with Jagadish Shettar, Laxman Savadi and Prahlad Joshi, seeking their views on cabinet expansion.

Shah also wanted to get an idea of what people think about the Yediyurappa government’s performance.

Newly elected MLAs Ramesh Jarkiholi, BC Patil and Srimanth Patil greeted Shah. “We only met him to wish him; we didn’t discuss the cabinet issue. That’s something state BJP members will do,” said Hirekerur legislator BC Patil.

Saturday’s deliberations fail to break the stalemate over the cabinet appointments. There are clear differences in the camp about whether all Congress-JD(S) defectors should be made cabinet members, according to a senior minister attended one such meeting.

Shah reportedly wants only seven to eight newly elected MLAs to be made ministers; the rest of the spots should go to BJP loyalists. Yediyurappa disagrees with this position as he had promised all 13 turncoats places in the cabinet. Two lost in the bypolls.

Shah has now asked Yediyurappa to visit Delhi after returning from Davos to finalise the composition of the cabinet, according to the sources.

Yediyurappa will leave for Davos early on Sunday, while Shah will fly directly to Delhi from Hubballi.

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News Network
February 17,2020

Abu Dhabi, Feb 17: NMC Health Plc, a hospital operator targeted by short-seller Muddy Waters, said founder Bavaguthu Raghuram Shetty resigned amid investor concern he faced a margin call and misrepresented his stake.

The board asked for Co-Chairman Shetty’s resignation and it takes effect immediately, according to a person with knowledge of the situation. NMC has lost four board members since Friday, including Vice Chairman Khaleefa Butti, whose holdings are also being probed. The stock, the worst performer on the FTSE-100 Index this year, fell as much as 9.2 percent Monday morning and then rebounded.

“The resignation of senior board members should be viewed positively,” said Abdulla Nahlawi, an analyst at Rasmala Investment Bank in Dubai. “The credibility of the current board has been jeopardized with the unfolding of the recent events.”

NMC shares lost almost half their value the first week of February on speculation the company’s main investors faced a margin call, in which banks seize shares pledged as collateral. NMC said Friday that First Abu Dhabi Bank and Al Salam Bank Bahrain obtained 20 million shares in the company from BRS International Holding, an investment vehicle of NMC’s top shareholders. The banks sold more than 8 million of those shares as “enforcement of security,” NMC said.

NMC operates the largest medical network in the United Arab Emirates and in 2012 became the first Abu Dhabi company to list in London. The shares started teetering in mid-December when Muddy Waters alleged that NMC manipulated its balance sheet and inflated the prices of companies it acquired.

Shetty, 77, was born in India and founded NMC in the 1970s after moving to Abu Dhabi. His spokesman said a legal review of the situation is ongoing and declined further comment.

Chief Investment Officer Hani Buttikhi and board member Abdulrahman Basaddiq also stepped down because they were appointees of Shetty and Butti, NMC said, adding that they had no knowledge of the share transfers.

Questions remain over the role of Shetty’s family at the company. His wife and son-in-law both hold roles in senior management.

Almost 10 per cent of NMC’s freely traded shares are shorted, according to Markit Securities data. In mid-December about a third of them were.

Last week GKSD Investment, an investment company backed by hospital investors, said it’s studying a possible offer for NMC. Under U.K. takeover rules, it has until March 9 to make a bid.

NMC has said Muddy Waters’s claims are false and the company hired former FBI Director Louis Freeh to conduct an independent review. The review is due to be completed before the company issues its financial results in March, the person said.

NMC said Mark Tompkins will continue as the company’s sole chairman.

Comments

sunita kejriwal
 - 
Monday, 17 Feb 2020

BRS could not fool all the people all the time!

 

Bhakth
 - 
Monday, 17 Feb 2020

Illegal way of earning will not last for long. 

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News Network
June 3,2020

Mangalore, Jun 3: One man was arrested by the Crime Branch of city police from Mangalore for allegedly having links with gangster Ravi Pujari, Joint Commissioner of Police (Crime) Sandeep Patil said on Wednesday.

According to the police, the man identified as Ghulam has been sent to 10-day police custody.

"During the investigation of a case related to Ravi Pujari, it was found that one Ghulam is a close associate of Pujari and had helped him in extortion and other illegal activity. Ghulam was arrested from Mangalore. He was produced before a court and sent to 10-day police custody," Patil said.

The senior police officer said that further investigation is on in the matter.

Pujari, who was wanted in several cases including ones related to heinous crimes like murder and extortion, was brought to Bengaluru earlier this year from Senegal. He had reportedly gone underground two decades ago and had allegedly been carrying out illegal activities from abroad.

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