Delhi-based real estate developer and asset management company, Alpha G:Corp, signed-up a joint venture with landowners in Punjab in 2006 to conceptualise, design and develop the prestigious AlphaOne mega project in Amritsar. The project, a 2-million square feet mixed use development comprising retail and entertainment, will be operational in June 2009, Alpha G:Corp said in an official statement issued on March 31, 2009 . The AlphaOne project will be the largest ever real estate development in Amritsar in terms of fiscal, area of construction, retail space and quality of development in that region.
The initial investment for this project is Rs 2.7 billion in phase – I and will be a destination centre encompassing retail, entertainment, luxury hotel and stand-alone boutiques. The total finished development will be 2 million square feet. Development in phase-I also includes a luxury five star business hotel under the brand name ‘Ista’ from the Ananda group of hotels, which alone will entail an investment of over Rs 1.25 billion.
Among many attractive innovations at AlphaOne is replicating the Hall Bazaar of Amritsar in the Amritsari Bazaar’ style on the second floor where almost 300 renowned retailers of Punjab are vying to obtain space. While the fit-outs are underway of the retailers, the company is spearheading tracking customer/consumer profile. This will provide support and enable the City Center experience to be beneficial to all at large and ensure the emotional connect between AlphaOne and that of the consumer.
The major retail areas entailing up to 80 per cent of the retail space have been leased out to brands such as Shoppers Stop, Timezone, The Home Store, Arvind Mills, Wills Lifestyle, Provogue, Metro Shoes, Peter England, Tommy Hilfiger, United Colors of Benetton, Levi’s, Lee, Allen Solly, Wrangler, Adidas, Nike, Reebok, Puma, Arrow, Lee Cooper, Planet Fashion, Spykar Jeans, Biba, Mufti, M & B Footwear, Reid & Taylor, Kapsons, Café Coffee Day, Store – 99, Lakshita, No Code, 109’F, Shoe Box, Hidesign, Magnet Shoes, Titan, Timex, V.I.P, Good Things, Lotus Bawa, Belmonte, Prime Watches, Hues, Catmoss, Spykar Kids, KingKow, Lilliput, Home & Apparel, Spykar, Pepe, Flying Machine, Kapsons Wardrobe, Just Lucky among other leading and prestigious brands.
While Shopper’s Stop Ltd has modeled HyperCity for AlphaOne along the lines of their path-breaking HyperCity project in Mumbai, Fun Republic has signed-up for a large multiplex to offer a heightened experience in good cinema to the people of Amritsar. Designed with a large, open atrium, this mega-project would comprise a shopping mall, hypermarket, restaurants, recreational facilities, multiplex and space for cultural activities. The company has taken measures to facilitate jointly with retailers in addressing consumers through various programs.
S K Sayal, Alpha G:Corp CEO and director, said, “At the time of planning we took account of every requirement of a retailer — right up to the truck loads ingress/aggress, parking and travelators among other such innovations. Our focus is to functionally make it customer-friendly, with planned zoning to that effect. Customer programs will be launched shortly to ensure customer satisfaction and delight that will result in repeat purchases for the retailers. Our company’s vision to expand in tier II and tier III cities is getting a phenomenal response, be it in Amritsar, Karnal Kurukshetra or Fatehabad.”
Prodipta Sen, VP, marketing and corporate affairs, Alpha G:Corp said, “AlphaOne will be spread over 25 acres on GT Road and will be the largest city centre development in Amritsar that will cater to the new and old city. Some innovative ways such as offering an exclusive peek-ins to the products during the soft launch by retailers as they do in the European markets will facilitate footfalls and repeat purchases besides celebrating the spirit of a carnival that comes to town! Alpha G:Corp is leaving no stone unturned to ensure that their mixed-use project becomes the pride of Amritsar and Punjab.”
AlphaOne Amritsar at a glance:
Over 5,40,000 square feet of retail and entertainment area.
1,45,000 sq.ft. of area for Hypermarket.
Over 1,20,000 sq.ft. of retail on each floor with more than 120 shops distributed over three floors.
50,000 sq.ft dedicated to multiplex and entertainment zones.
10,000 sq.ft. of specialty dining along with 30,000 sq.ft. of food court and food stalls.
Category mix:
Hypermarket
Retail
Multiplex
Family entertainment centre
Speciality dining
Food courts
Five star business hotel
Health clubs and spa
Key anchors:
Shoppers Stop
Hypercity
Fun Cinemas
Time Zone
Vanilla stores:
Tommy Hilfiger, United Colors of Benetton, Levi’s, Lee, Allen Solly, Provogue, Wrangler, Adidas, Nike, Reebok, Puma, Arrow, Lee Cooper, Planet Fashion, Spykar Jeans, Biba, Peter England, Mufti, M & B, Reid & Taylor, Kapsons, Café Coffee Day, Store – 99, Lakshita, No Code, 109’F, Shoe Box, Hi-Design, Magnet Shoes, Metro Shoes, Titan, Timex, Provogue, V.I.P, Good Things, Lotus Bawa, Belmonte, Prime Watches, Hues, Catmoss, Spykar Kids, KingKow, Lilliput, Home & Apparel, Spykar, Pepe, Flying Machine, Kapsons Wardrobe, Just Lucky, etc.
— Nupur Chakraborty
