Inorbit Malls Hubli: A Game-Changer in Karnataka's Retail Landscape with INR 400-Cr Investment

Inorbit Malls, a subsidiary of K Raheja Corp, has made a significant move by acquiring a prime retail property in Hubli, Karnataka. The acquisition of Akshay Sky Mall, spanning a gross built-up area of nearly 6.5 lakh sq. ft., was finalized for over INR 400 crore, marking a notable milestone in the region's retail development.

Akshay Sky Mall: Ready for an Impressive Launch

The Akshay Sky Mall, situated on Gokul Main Road, is fully developed and slated for a grand opening in the coming months. Strategically positioned, the mall’s reach extends to the bustling regions of Hubli and Dharwad, promising a superior shopping experience for the local community and visitors alike.

Strengthening Inorbit’s Retail Presence Across India

This acquisition expands Inorbit Malls' footprint, which already boasts four major operational malls in Mumbai, Navi Mumbai, Hyderabad, and Vadodara. The company is also progressing with projects in Visakhapatnam and an extension of the Vadodara mall. Collectively, Inorbit's properties account for over 2.28 million sq. ft. of retail space, underscoring its vision for growth and innovation in India's retail sector.

High Demand for Premium Retail Spaces in Hubli

Akshay Sky Mall is already fully leased, hosting leading anchor tenants like Reliance Trends, Smart Bazaar, and Timezone. This reflects the increasing demand for premium retail spaces in Hubli. The city, a part of the Hubballi-Dharwad Municipal Corporation, has gained prominence as one of the 100 smart cities under the Ministry of Urban Development, making it an attractive hub for large-scale real estate investments.

JLL’s Role in Facilitating the Deal

The transaction was facilitated by JLL, which served as the advisor and provided crucial support in zoning, tenant mix, and leasing strategies for the mall. This collaboration ensured a seamless process, enhancing the mall’s appeal for both tenants and shoppers.

Highlights

• Major Acquisition: Inorbit Malls acquires Akshay Sky Mall in Hubli for over INR 400 crore.
• Strategic Location: Positioned on Gokul Main Road, with a catchment covering Hubli and Dharwad.
• Expanding Presence: Inorbit Malls strengthens its footprint with over 2.28 million sq. ft. of retail space.
• Anchor Tenants Secured: Key brands like Reliance Trends, Smart Bazaar, and Timezone already onboard.
• Smart City Advantage: Hubli’s inclusion in the 100 smart cities enhances its investment appeal.
• Expert Advisory: JLL provided critical support in zoning, tenant mix, and leasing strategy.

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