May 13 2015 | Press Release

Nitesh Estates Acquires Pune Shopping Mall for Rs. 250 crores

Nitesh Estates Shopping Mall portfolio is now 2.2 million sq. ft.

Bangalore based premium property developer; Nitesh Estates recently announced its entry into the Pune market. With the acquisition of 1 million sq. ft., the Koregaon Park Plaza Centre an A grade shopping mall, spread over 6 acres in prime upscale locale of Koregaon in Pune, Nitesh Estates has achieved yet another milestone in its decade old presence in India. With this acquisition the Nitesh Estates shopping mall portfolio is now 2.2 million sq. ft. They are currently developing 1.2 million sq. ft. shopping mall in the upmarket locale of Indiranagar in Bangalore.

The Koregaon Park shopping mall can accommodate 130 retail stores, an extensive food court and can house around 1000 cars in the parking space. The mall already has a PVR cinema with 7 screens and Spar supermarket along with brands like Tommy Hilfiger, Collective, M.A.C, Calvin Klein, U.S. Polo Assn., Swarovski and Crossword.

Ashwini Kumar, Executive Director & COO, Nitesh Estates said, “Over the years, Pune has emerged as an important real estate market. We are delighted to acquire this top quality asset and build our shopping portfolio. Koregaon Park shopping mall is undergoing a refurbishment and will soon sport a new food court in addition to fine dining restaurants. The changes will take place while the mall remains operational. Nitesh Estates plans to bring their legacy of design driven and cutting edge facades fashioned by one of the best architects for the mall makeover.”

About Nitesh Estates Limited
Founded by entrepreneur Nitesh Shetty in the year 2004, Nitesh Estates is a leading integrated property development company headquartered in Bengaluru. The company provides world-class products and services and has presence across four asset classes, Homes, Hotels, Office Buildings, and Retail Spaces.

Since inception, Nitesh Estates has created a niche for itself by pioneering some of the finest real estate projects in the cities of Bangalore, Chennai, Goa and Kochi. Nitesh Estates