With a vision to revolutionise the entire real estate sector, Spacetech has been creating new benchmark projects to transform the lifestyle of the society and ‘Spotlite- Mall of Joy’ is one such example. Spotlite is the first 100 percent leasehold retail project in Rajnagar Extension, Ghaziabad. Located in the heart of the city, the upcoming mall is a part of ‘Mega Ghaziabad Development.’
“Like all developers, we too aim to make ‘Spotlite’, a successful centre, but for us, a successful centre is when all our retailers – from anchors to kiosks – are operating in profits.
When it comes to malls, there’s a thin line between real estate and retail, and hence developing a mall and operating a mall are two different things. It’s an established fact that malls are not just shopping destinations, but lively social spaces. Today mall goers are looking for a fun-filled, memorable experiences and shopping is the byproduct of the process,” says Ravi Pratap Singh, AVP – Leasing and Business Development, Spacetech.
Brand Journey
With the ideology of ‘Just Tell the Truth’, Spacetech has been the part of real estate industry for the past 15 years. Be it design, planning, contracts, construction, leasing and marketing, the brand firmly believes in showcasing the expertise at all levels of a project. The group comprises of set of professionals from the engineering, construction and finance backgrounds.
“With strong educational backgrounds to back them up and zeal to create projects which shine among the clutter of developments, the team envisages cutting out a niche for themselves in the new evolving industry. We completely believe in not only to build projects but also to build long lasting relationships and therefore, our team is fully focused on creating developments and experiences, that foresees a new trend for the industry,” says Singh.
Key Highlights
A six-screen megaplex – PVR Cinema with 1,008 seats is the major attraction of the mall. The new addition to the brand portfolio is More Hyper (hypermarket), Westside and Haldiram’s. The mall will also have a new food court with popular international and national brands.
Adding more to it, Spotlight will have an entertainment zone, Microbrewery, fine dining and over 78 inline stores across floors for the right mix of brands. The key fashion brands which have already signed so far are US Polo, Raymond, Park Avenue, Arrow, Firstcry.
The mall is in discussion with many renowned brands like Marks & Spencer Pantaloon, Reliance Trends, Zudious, Reliance Digital, UCB, Lenskart, Zivame, Levis, Bodyshop, Arrow, Louis Philippe, Van Heusen, and plans to add them and many more to its retail portfolio.
“For providing an experience that our consumers are looking for, our retailers are the real heroes. Therefore, for us the retailers in our mall are part of our extended team and valuable stakeholders. Their stakes in terms of capex, rentals and opex is equivalently high as ours and their RoI is equivalently important,” says Singh.
Location Strategy
Spread over an area of 3.2 lakhs sq.ft., the mall is stratigially placed so that it is close to the airport, railway station as well as the bus terminal among other major landmarks of the city. Its proximity to all the colleges / educational institutions and all high density populated sectors, will prove beneficial since the mall aims to be home to the Millennial crowd.
Spotlite is in its final phase of completion and will be ready for fitouts by the fourth quarter of 2021.
