Success Stories

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A synopsis of our mall success stories

29 Apr, 2010

  •  In March 2004, Asipac won the mandate to plan and lease a proposed 1.6 million square feet Super Mall at Bangalore. The closest Mall to its size (Great India Place) had taken more than 18 months to lease the first 600,000 square feet. Asipac leased 1.17 million square feet in just 8 months, including 27 international brands, many of which were entering India for the first time.
  • In December 2005, Asipac got the leasing rights for a 1.5 million square feet Mall in Hyderabad. In just 18 days, Asipac received written commitments for a whopping 710,000 square feet of space from anchor tenants. The project was dropped due to the then political situation in AP.
  • In March 2006, Asipac started pre-leasing a proposed 2.5 million square feet Super Mall in Bangalore. Asipac got commitments for 1.65 million square feet in this Mall in just 2 months. Based on a traffic study done by international experts, Asipac advised the developer to drop this mall project.
  • For the 920,000 square feet Mantri Square mall in Bangalore (India’s largest mall as of June 2010), Asipac did the entire pre-design planning, architectural design management, strategic letting plan, leasing and lease management. From December 2008 to July 2009, Asipac leased more than 700,000 sq.ft. of space in this mall, during a period of deep recession for the retail industry. This represented >75% of all mall space leased during this period in the entire city of Bangalore.
  • Despite leasing activity on for more than 3 years at City Centre, Mangalore, and the involvement of giant property consultants such as JLLm, Colliers, Cushman & Wakefield, ICICI Properties and others such as Propzone, only 37% of the mall’s total GLA had been leased until October 2009. Asipac took on the sole leasing rights for the entire unleased area in November 2009 and was able to lease 44% of the mall’s total GLA in less than 6 months.
  • In April 2010, Asipac finalized leases for almost 65% of the 510,000 square feet GLA of Neomall, India’s largest and modern India’s first strip mall.


For a mall to succeed, there cannot be “landlords” and “tenants” – rather, there have to be “infrastructure partners” and “retail operating partners”