May 27, 2024: Real estate developer Aparna Constructions and Estates Private Limited has announced its foray into the retail-commercial and entertainment segments with the launch of Aparna Neo Mall and Aparna Cinemas in Hyderabad. Located in Nallagandla region, Aparna Neo is spread across 3.67 acre with an expanse of 3.5 lakh square foot, and is the only mall within the 8 km radius. Aparna Constructions has made a strategic investment of Rs 252 crore in Aparna Neo and an additional investment of Rs 32 crore in Aparna Cinemas.
Aparna Neo Mall has more than 80 curated stores, catering to over 25,000 upper-mid and upper-segment families in the region, offering a wide range of luxury cosmetics, high-end apparel, travel necessities, technology, gourmet dining and premium quality entertainment options.
It will have an array of retail offerings, complemented by the addition of Aparna Cinemas featuring state-of-the-art facilities, including the latest Dolby sound systems and 4K projection screens, ensuring an unparalleled audio-visual experience. The 1200+ seater cinema is designed for a premium movie-watching experience with a variety of in-movie dining options facilitated by its own on-site kitchen.
Rakesh Reddy, director, Aparna Constructions and Estates said, “Since 1990, the 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 monumental 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. Hyderabad is poised to emerge as the 4th fastest growing city, driven by a booming IT/GCC sector that is attracting a significant influx of new residents. This 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 aspirations.”
According to an official release, the entertainment and media industry in India is growing significantly and is expected to reach $73.6 billion by 2027. Subsequently, the number of theatre-goers has also increased by 29% reaching 15.7 crore individuals in 2023.
“We also have plans for 4 new malls, each featuring Aparna Cinemas as the entertainment unit across Telangana and Andhra Pradesh, by 2027. Meanwhile, our flagship residential real estate and commercial portfolio continue to grow by 20% and 10% respectively, y-o-y. We are committed to exploring new opportunities and delivering value to our stakeholders, cementing our position as a real estate trailblazer”, added Reddy.
With approximately 25+ residential gated community apartments and 70+ IT companies in the vicinity, Aparna Neo is located to offer a combined synergy of lifestyle, entertainment, essentials and dining to its visitors. Some of the marquee brands in the mall include Lifestyle, Nykaa, Croma, Azorte, GAP, Centro and more.
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