Navi Mumbai’s Center One Mall Makes Way for Kamdhenu Realities’ Ambitious Project
Navi Mumbai, 20th June 2024: Navi Mumbai’s Center One Mall, a former bustling hub for shopping and entertainment, has been demolished to pave the way for a modern commercial complex developed by Kamdhenu Realities. Located in Vashi’s Sector 30A and spanning 1.5 lakh sq ft, the mall held sentimental value for Navi Mumbaikars since its establishment in 2003.
Initially, a pioneering retail destination featuring national and international brands, Center One Mall faced competition from newer, larger complexes over the years, resulting in declining foot traffic. After closing in 2015 and reopening as ‘Vashi Central’ in 2017, it struggled to sustain operations.
Recognizing the site’s redevelopment potential near Vashi Railway Station and Sion-Panvel Highway, Kamdhenu Realities plans a modern commercial complex. This ambitious project aims to meet the city’s evolving commercial needs with spacious office areas starting from 550 sq ft carpet area. Expected to receive a commencement certificate by August 2024, the RERA-registered project will span 35 floors with ample parking for both two-wheelers and four-wheelers.
Emphasizing modern architecture and sustainability, Kamdhenu Realities aims to create a new landmark for Navi Mumbai, symbolizing growth and a promising future. As construction progresses, the project promises to rejuvenate the area, aligning with urban development trends and aspirations.
Despite a surge in Gross Leasable Area (GLA) across prime Indian markets in 2023, the closure of numerous malls underscores shifting consumer behaviours towards online shopping and larger, high-end retail destinations. Mumbai alone has 10 abandoned malls, comprising 2.1 million sq ft of GLA, reflecting broader challenges faced by smaller malls nationwide.
