Realty Plus interviews Amit Phull, Head – Retail, Ansal API

Realty Plus: What was the reason behind stopping the operation of the mall and re-launching it? Amit Phull: No, we never stopped the operation of the mall. It was in the end of 2015 when Shoppers Stop, our then anchor brand, decided to vacate, and then we took that as an opportunity to work on a new concept for the mall and then revive it further. It has taken us almost about one year to execute the plans well but the operations were not stopped, whatever were the operations they were carried on but certain areas were blocked for the renovation and for new brands to take over. RP: Please throw some light on the retail segment of the Delhi-NCR realty market. AP: See, as far as Delhi-NCR market is concerned, there are bigger and better malls coming in Gurgaon and Noida, but the need of the hour is to create an everlasting concept. We have to look from a long-term prospective. The concept should be hit 10-15 years down the line. That is what we have tried to do over here in Ansal Plaza in the heart of South Delhi. We know that there are malls which are big hit in the nearby vicinity like Saket, Vasant Kunj etc but we want to concentrate on our plus points, open areas, location advantage etc. Our concept will be a unique concept of premium lifestyle experience in the form of food and beverage as well as the sports goods and that is something which will unique and you can’t find this somewhere else in South Delhi. RP: Please tell us about your expansion plans. AP: As a group, we already have a portfolio of nine malls spread across five states in India. Reviving the Delhi mall is an opportunity for us which will have a significant impact in our overall malls portfolio. At strategic locations where there is a good sync with our overall expansion plan, I think our group will definitely look at further expansion. RP: Which are the new brands that have entered Ansal Plaza? AP: So, after the Shoppers Stop vacated, we worked on a zoning concept. There are three blocks, Block A, Block B and Block C. Block A was occupied by Shoppers Stop earlier. In Block B, there were brands like Meena Bazaar, Colour Plus and McDonals and in Block C there were few restaurants. Now, as per zoning we have gone with the anchor brand, Decathlon – World’s premium sports goods retailer. I think it will have a mass reach and it has a connect with the youth and it will also help in promoting the concept of health and wellness. Complimenting that, we have gone with the brands which are very formidable in the food and beverage sector. We have specially chosen brands which will offer array of world cuisines. You think of a cuisine and it is available at Ansal Plaza and it will make Ansal Plaza an ultimate food hub. RP: Will Ansal Plaza still be open for booking for marriages, parties etc.? AP: Ansal Plaza has always been a platform where people have done lot of events of all sorts be it concerts, movie promotions, product launch and many more. So, Ansal Plaza is open to all of that. We are already working on a calendar of our events. Being with the concept of sports and F&B, we are keen to host certain sports festivals, food and beverage festivals and at the same time we have to take the advantage of the location. We are strategically located between Siri Fort Auditorium and Jawahar Lal Nehru stadium so it becomes an ideal destination to create a sports hub and that’s what we want to do. RP: What will be the impact of demonetization on real estate sector? AP: Overall, everybody knows that the decision is in the right manner and in the benefit of the country. Every sector has to go with it and every sector will have certain impacts. But, I think, all these impacts will be short term impacts and over a period of time we will definitely develop into a stable economy and all the sectors will revive. RP: Don’t you think that with this decision the involvement of black money in the real estate will become zero? AP: I believe that not only this particular decision but other decisions like RERA are certain measures which Government is taking to revive the real estate sector and I think the developers are taking it in a positive way and overall we feel that all these measures are going to help the sectors over a period of time.