Raheja keen to invest in hospitality, IT in AP

Visakhapatnam The stone for the Rs600-crore Inorbit Mall Project in Visakhapatnam was laid here on Tuesday by Andhra Pradesh Chief Minister YS Jagan Mohan Reddy who declared that this will be one of the largest malls in India and probably the biggest in South India ushering in dramatic change in retail marketing and entertainment landscape of the State.

The Chief Minister said that the Raheja Group has also expressed interest to build super luxurious Raj Vilas type hospitality facilities in the city.

The Inorbit Mall project will provide direct and indirect employment to 8,000 people,Jagan Mohan Reddysaid, disclosing that the Raheja Group will develop IT space and an international convention centre in the rest of the four acres in the second phase in which 3,000 persons will get employment.

K Raheja Corp management, who signed an MoU for allotment of 17 acres at Kailasapuram on a 30-year lease with the Visakhapatnam Port Authority (VPA) announced its desire to invest in hospitality and other sectors in Visakhapatnam, Kakinada, Nellore and other places across the State.

The company President Neel C Raheja said they are already part of Andhra Pradesh's exciting journey by opening stores in Visakhapatnam, Vijayawada, Guntur, Rajamahendravaram. It will soon open stores at Kakinada, Nellore and Tirupati.

He said they are investing in a mega textile park in the Hindupur area of Anantapur. "We are involved in IT parks and hotels and are extremely happy with the investor-friendly environment in Andhra Pradesh," he stated.

Among those that attended the mall’s brick-laying ceremony were Neel C Raheja, Inorbit Mall CEO Rajneesh Mahajan, Industries Minister Gudivada Amarnath and Health Minister Vidadala Rajini.

Spread across 17 acres the Inorbit mall will have 6 lakh sqft of gross leasable area. This will be the fifth Inorbit mall in India. The first-of-its-kind expansive mega-mall project, located near Visakhapatnam Port Authority Hospital abutting the National Highway, is set to disrupt the retail landscape of the State and change the face of the local economy by employing thousands of people.

Phase-I of the construction which will see the opening of over 250 national and international brands, a multiplex, food court, terrace garden and family entertainment centre, will be ready by mid-2026. Phase-II will add 2.5 lakh sqft of office space by 2027 and Phase-III will see the development of a 200-room 5-star hotel and banquets that will commence operations by 2029.

In his address, the Chief Minister expressed happiness over the Raheja Group's decision to invest liberally across AP and said they would be happy to encourage them in setting up a seven star property in Visakhapatnam after launching of work on seven star hotels and properties in Bheemunipatnam area by Oberoi Group and Mayfair Hotels and Resorts. He said in May, they laid the foundation stone for Bhogapuram International Airport by GMR Group. Adani Group will be investing over Rs20,000 crore on a data centre and business park in Visakhapatnam. A greenfield port is also being built at Mulapeta in Srikakulam district thereby changing the investment scenario in North Andhra creating employment opportunities for many.

In his address at the meeting, Rajneesh Mahajan, CEO,Inorbit Malls, said: “We are thrilled to join Andhra Pradesh's remarkable growth journey through Inorbit Visakhapatnam. This grand mall will be the largest retail project in the State and promises to redefine its retail landscape by presenting its people with an aspirational social space that will create a new benchmark in the country.”