The Delhi based Collage Group recently announced two semi premium retail malls in Jalandhar and Amritsar with retail space over one million sq ft. Amit Khaneja, vice chairman, Collage Group, told FE real estate developers are coming to Punjab because of its fast growing economy. "In addition lifestyle aspirations are changing and people want a better shopping experience. With retail consumer market in Punjab growing at 30-35% per annum it is a huge opportunity." The Viva Collage mall in Jalandhar which would be ready by April 2009 is spread across 700,000 sq ft and would house an integrated multiplex with retail and entertainment complex. The mall would have a hypermarket for Aditya Birla Retail Ltd, for fashion clothing.
The Viva Collage mall in Amritsar spread across 600,000 sq ft.would be ready in October 2009 "The mall has been designed by Zachary Design of the UK and the ethnic architectural theme has been reinforced by the retail and merchandise mix that would be on offer," added Khaneja.