Aparna Constructions forays into retail, entertainment
Invests Rs 252 crore for the launch of its first mall, Aparna Neo; Rs 32 crore towards Aparna Cinemas
image for illustrative purpose
Aparna Constructions and Estates Private Limited, a real estate developer on Monday announced their foray into the retail-commercial, and entertainment segments with the launch of Aparna Neo Mall, and Aparna Cinemas in Hyderabad. Aligned with business diversification goals, Aparna Constructions said it has invested Rs 252 crore in Aparna Neo, and an additional Rs 32 crore in Aparna Cinemas.
Located at Nallagandla region, Aparna Neo is spread across 3.67 acre with an expanse of 3.5 lakh sft. The Mall, that will open its doors on May 31, 2024, is house to more than 80 stores offering luxury cosmetics, high-end apparel, travel necessities, technology, gourmet dining, and entertainment options. Besides boasting of retail offerings the Mall features Aparna Cinemas, a 1,200 seater cinema with Dolby sound systems, 4K projection screens, in-movie dining options facilitated by its own on-site kitchen.
On the company’s business plans for the year, Rakesh Reddy, Director, Aparna Constructions and Estates, said: “Since 1990, Aparna Group has consistently diversified its portfolio across a variety of business segments. Aparna Constructions’ foray into the retail real estate and entertainment segments is another step in our growth trajectory. Aparna Neo not only marks the milestone of our first mall launch, but also echoes our in-depth understanding of the market dynamics in the region. As rapid urbanization is fueling growing demand across the residential, commercial, and retail real estate categories, we want to be well positioned to cater to consumer’s aspirations.” He further informed his plan of opening four new malls, each featuring Aparna Cinemas as the entertainment unit across Telangana and Andhra Pradesh, by 2027.
