Royal Palms to foray into malls

Written by Mona Mehta | Mumbai | Updated: Nov 3 2009, 05:19am hrs
Mumbai-based realty firm Royal Palms India Private Ltd is all set to launch a retail mall spanning three lakh sq ft at Royal Palms in Goregaon, Mumbai, said Dilawar Nensey, the company's joint managing director. The mall, to be inaugurated in December, will include a "home maker" mall and an "Orchard Road" mall, inspired by Orchard Road in Singapore.

The move has come in the wake of selling 1, 2 and 3 BHK apartments and leasing commercial properties space at half the price in comparison to what top builders are currently offering. Despite a growing demand for residential apartments, industry experts feel it will take at least a year for builders to focus at realty expansion and actual targeted sales conversion to happen.