Sheth Developers, one of the leading real estate players in India, has announced their new project Vivacity. The mall is poised to come up in the Thane district, adjacent to Mumbai. Spread over an area of 1 million sq ft, Vivacity boasts of a multiplex with 14 screens, 7 large anchors along with a mix of mini-anchors and a gaming zone.

Sheth Developers tied up approximately half the space at its upcoming 1 million sq ft mall in India financial capital. JP Biswas, vice president, leasing and marketing, Sheth Developers said, Vivacity is poised to bring a never before experience to its customers.

With a great combination of shopping experience, movies and entertainment, the project promises to offer the shoppers more options and more choices when it comes to shopping, food and entertainment the mall, located in Thane on the eastern express highway will be well connected with all parts of the city.

It is strategically located to cater to the catchments area of Thane, Mulund, Powai, Ghatkopar and other central suburbs of Mumbai. The mall will also be easily accessible to the western suburbs of Mumbai via Powai.

Thane is a preferred choice for young affluent buyers due to its proximity to other parts of the city and infrastructural facilities. Rising consumerism and increasing purchasing power has led to a significant growth of the organised retail market in central as well as eastern suburbs. With its spacious, relaxing and unwinding designs, Vivacity plans to be a daily destination which currently is lacking in greater Mumbai Biswas said.

The developers have already signed with K Raheja Group to set up Shoppers Stop; a family store, with value merchandise and Hyper City, the hypermarket chain stores within the mall Vivacity will be housing Hyper City and Shoppers Stop, as its anchor tenants.

The two format retailers have leased an area of 85,000 sq ft and 65,000 sq ft respectively spread across the ground and the first floor. Sheth developers had also announced its tie up with Cinepolis to set up fourteen-screen megaplex with a facility to showcase over 70 shows on a single day with a seating capacity of 2,400 people. It will offer a luxurious and ultra-premium cinema experience.

Speaking about the 2 large anchors coming on board with Vivacity Mall, Biswas said, our tie-up with Shopper Stop and Hyper City is in line with our promise of bringing top brands to Vivacity. We look forward to give an excellent shopping experience to our customers by providing everything under one roof.

Commenting on its strategic tie-up with Vivacity, Govind Shrikhande, customer care associate and president and CEO, Shopper Stop, said, We always wanted to have a large Shoppers Stop store in Thane.

Vivacity has filled in the gap perfectly for us. In our opinion, Vivacity will be a dominant retail property in the central suburbs. The size and expanse of the mall combined with our ability to pull customers will be key to the success of both Shoppers Stop as well as Vivacity.

The mall currently has 37 per cent occupancy by retailers from the country and is hoping for 100 per cent occupancy by the end of the year. Vivacity is slated to open its doors for the consumers by the mid of financial year 2011-12.