With close to 300 options in shopping, dining and entertainment, Phoenix MarketCity located in Whitefield area has become the preferred shopping destination of Bengaluru for all ages. Consumption at the mall grew by 15% in FY2017 to ₹ 10,200 million, while Rental Income grew 14% to ₹ 1,090 million. The asset recorded an average Trading Density of ₹ 1,444 per sq. ft. per month, up 12% over the previous year, while the average trading occupancy stood at 90%. Domestic and international retailers expect a shorter pay-back time on their investment at the mall owing to rising footfalls and higher consumption.

New Additions

Prime categories which recorded strong consumption growth were fashion, cosmetics and accessories. Footfalls increased as customers preferred the enriching mall experience and good customer service over passive shopping. The mall witnessed a rise of 25% in consumption of F&B business, with rising footfalls and several food delivery options. The F&B outlets attracted footfalls, and Social (the pub) helped improve the nightlife experience. Key brands added during the year were Sephora, Asics, Mont Blanc, Vero Moda, G Star, Only, Mebaz and Lifestyle.

A key USP of the mall is that it houses multiple anchor brands representing a good mix of Indian and international brands with a loyal customer base. The open courtyard, large-scale musical and thematic events and ample and convenient parking spaces are an added attraction.

Year Ahead

During FY2018, addition of new brands and exclusive and exciting deals and offers from various brands will be the key triggers for growth in consumption. We will continue our focus on the prime categories of F&B, fashion, books and toys. Our objective is to add more interesting F&B options with newer international island café concepts. We are also working towards relocating or resizing the existing courtyard facing stores with the aim of accommodating better concepts to complement the view and experience.

We will continue our focus on being a socially responsible mall by organising CSR activities with foundations such as Smile and UNICEF. We will also keep increasing customer awareness through aggressive marketing and PR activities.

Sustainability Initiatives

The mall is undergoing a transformational change to enhance customer experience multi-fold. The makeover includes change in flooring tiles to granite, marble or similar tiles, conversion of CFL bulbs to LED to improve lighting and preserve energy, using 85% power from clean energy at lower cost, reducing the use of fresh water by using water from STP as an additional source, and introducing life size art pieces, trees and greenery, new direction signages and digital directories. These are aimed at offering our discerning customers an international feel and enhance their shopping and leisure experience at the Mall. All touchpoints are getting refurbished and new parking driveways are being put up with diversional and directional signage. We are also enhancing parking by adding space for 180 4-wheelers.