Mall advisory company Beyond Squarefeet has merged with and strategically acquired retail asset management firm IDEAS consultancy and advisory headed by Surjit Rajpurohit, who will now head the mall/asset management business of Beyond Squarefeet as Director – Business Strategy.
Commenting on the move, Susil Dungarwal, Chief Mall Mechanic, Beyond Squarefeet, said: “Our strengths and learnings as entrepreneurs and professionals with over 20 years of experience in the mall industry will help us and the mall developers to enhance their asset values, which would be backed by practical know-how of the industry.”
Rajpurohit said that with the company’s expertise in the segment and international exposure it was imperative to look for like-minded partners having an appetite for growth. “Our vision is to convert this venture into the best professional mall management company, with a lot of value add to the mall developers, which is currently lacking in the market,” he added.
According to the company officials, Beyond Squarefeet will focus on long-term goals of the mall developers by assisting them on constant footfalls, increased per square feet revenues, enhancement of non-lease income, partnering with tenants, ROIs, etc.
Beyond Squarefeet has managed mall development and operations of more than 30 million sq.ft. (3 crore sq.ft.) spread across India. Some of the current projects of the company spread over 6.3 million sq.ft. include Neptune Magnet Mall (Mumbai), Lonavala Square (Mumbai), Gokulam Galleria (Kerala), LULU International Shopping Mall (Kerala), K10 Mall (Jalna), K Mall (Kerala), CG Malls and CG Retail across Nepal, Omaxe Connaught Place, Greater Noida, etc.
IDEAS Consultancy and Advisory provides services in research and consultancy, capital markets, land acquisition, retail development advisory, leasing and management across South-Asia for commercial/office real estate, residential, hospitality, hospitals, and educational institutions. The company claims to have developed and managed assets including Moments mall (Delhi), Rahul Raj mall (Surat), Regent mall (Surat), City Emporium (Chandigarh), City mall (Lucknow), and Jamuna Future Park (Dhaka).
