Navi Mumbai's Iconic Center One Mall Makes Way For Modern Commercial Complex

Navi Mumbai's Iconic Center One Mall Makes Way For Modern Commercial Complex

It has made way for a modern commercial complex to be developed by Kamdhenu Realities. Located at Sector 30A in Vashi and spread over 1.5 lakh sq ft, the Center One mall held a special place in the hearts of Navi Mumbaikars since its launch in 2003.

Bhalchandra ChorghadeUpdated: Thursday, June 20, 2024, 08:31 AM IST
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Navi Mumbai's Iconic Center One Mall Makes Way For Modern Commercial Complex | X

Navi Mumbai: Center One Mall, once a bustling hub for shopping and entertainment in Navi Mumbai, has been demolished. It has made way for a modern commercial complex to be developed by Kamdhenu Realities. Located at Sector 30A in Vashi and spread over 1.5 lakh sq ft, the Center One mall held a special place in the hearts of Navi Mumbaikars since its launch in 2003.

The mall was a pioneering retail destination introducing residents to a new shopping experience with a variety of national and international brands. Over the years, however, the mall faced stiff competition from newer and larger shopping complexes, which led to a gradual decline in footfall. The mall was closed down in 2015, only to be opened again in 2017 with a new name, ‘Vashi Central’, but that also could not sustain for long.

Recognizing the potential for redevelopment and its proximity to the Vashi Railway Station as also Sion-Panvel Highway, Kamdhenu Realities has stepped in with ambitious plans to construct a state-of-the-art commercial complex on the site. This new development aims to cater to the evolving needs of the city’s commercial sector, providing modern office spaces and exotic food joints.

“We will construct a modern commercial complex wherein office spaces above 550 sq ft of carpet area would be made available. We expect to get a commencement certificate (CC) for the project by August, 2024 and contemplate completing the construction within four years. It is a RERA registered project and will have 35 floors with ample space for parking two-wheelers and four-wheelers,” an official from Kamdhenu Realities said without divulging more details.

Kamdhenu Realities has assured that the new complex will be designed with modern architecture and sustainable practices, aiming to create a landmark that will once again become a focal point for the community. As construction progresses, the city eagerly anticipates the rise of this new commercial edifice, symbolizing growth, modernization, and a promising future for Navi Mumbai.

According to reports, around 64 malls had to shut in India in the past two years while 35 more are in the line to be closed. With more and more consumers shopping online or thronging high-end malls with bigger brands, small malls in cities are facing the risk of closure.

A recent “Think India Think Retail 2024” report by Knight Frank India, highlighted that despite a significant 238 per cent year-on-year surge in the Gross Leasable Area (GLA) across prime Indian markets in 2023, the spectre of ghost malls looms larger. The data from Knight Frank reveals that the 64 abandoned malls spanning eight cities occupy 75 per cent of the total 125.1 mn sq ft. GLA. Mumbai has 10 ghost shopping centres with 2.1 million sq ft of GLA, the report said.

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