Capital Malls India takes on 15-year lease deal
Taking over C21 Mall in Bhopal on a 15-year lease, Capital Malls India will rebrand the property as well as change its trading style.
In the first such retail deal in India, Capital Malls plans to change the zoning, tenant mix and lease management in a bid to attract more customers. The mall will become Capital Mall, as will all future malls run by the company.
“By taking the entire mall on a long-term lease, we will be able to not only bring in innovation in marketing, we will also bring in working efficiencies,” says Capital Malls MD Mukesh Kumar.
“While this is our first mall using this new concept, we are already in talks with a few more developers.”
Capital Malls is the trade name of Beyond Malls, set up by entrepreneurs with more than three decades of experience in retail, especially mall advisory, development and management.
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