Alpha G:Corp’s Mega Gift
Delhi-based real estate developer and asset management company, Alpha G:Corp, major alliance partner in the pan-India conglomerate, G:Corp, has signed up a joint venture with landowners in Punjab to conceptualize, design and develop the prestigious AlphaOne mega project in Amritsar. It will be spread over 25 acres on G.T. Road. Alpha G:Corp was allotted the mega project status because it submitted the most advanced development plan. The initial investment will be Rs. 270 crores in the first phase and this is going to be a destination centre encompassing retail, entertainment, luxury hotel and stand-alone boutiques on a total space of two million sq. ft. The features in Phase 1 also include a 200-room luxury boutique hotel under the brand name ‘Ishta’ from the Ananda group of hotels, which alone will entail an investment of over Rs. 100 crores.
The major retail areas entailing up to 80% of the retail space have been leased out to brands such as Shoppers Stop, Time zone, The Home Store, Arvind Mills, Wills Lifestyle, Provogue, Metro Shoes and Landmark among other leading brands. While Shoppers’ Stop has modeled their hyper-city for Alpha One along the lines of their path-breaking, recently launched hyper-city project in Mumbai, Fun Republic has signed-up for a large multiplex to offer a heightened experience in good cinema. The construction will begin in August 2006 and the first phase will be operational by March 2008. All tenants will move in by September 2007 for carrying out internal fit-outs. Designed with a large, open atrium, this mega-project would consist of a shopping mall, supermarket, restaurants, recreational facilities, multiplex and space for cultural activities of global standards.
The planning of the entire project is being done keeping in mind the growing needs of the people of Amritsar and Jalandhar for their daily requirements for shopping, entertainment and cultural needs, which so far have been catered by out-station trips to Delhi, Ludhiana or Chandigarh.
