Earlier this year in May, a prime name in shopping malls in South India, Virtuous Retail South Asia (VRSA), bought North Country Mall for a whopping Rs 700 crore. Now, the new owners are bringing its name to shine in its signature style.
Its existing portfolio of community-centric centres are VR Surat and VR Bangalore. On its lines, NCM will be VR Punjab.
The official announcement will be done in the days to come.
About North Country Mall
- Opened in May 2014, the NCM is spread over 22 acres and has 2 million-sq ft in area. It is one and a half times bigger than Elante Mall.
- It is located on the busy Mohali-Kharar National Highway-21 at Desumajra village, close to Kharar.
- It has 250 shops and over 10 anchor stores, offering 35 per cent international, national and regional brands. It also houses a banquet hall with a capacity of 2,000 persons. The parking area is enough for 3,000 four-wheelers in two basements, in addition to surface car parking.
- NCM boasts the tricity’s biggest nine-screen PVR multiplex, with a seating capacity of more than 1,800 people at a time, two screens at the mall are dedicated to “Gold Class”.
About Virtuous Retail South Asia VRSA
- Virtuous Retail South Asia VRSA is based in Singapore and its Indian operations are headquartered in Bengaluru.
- VRSA is a developer-operator of community-oriented premium Lifestyle Shopping Centers.
- It was established in 2007.
- Virtuous Retail’s pan-India portfolio includes prime city center locations in Bengaluru, Chennai and Surat.
- It’s portfolio includes Lifestyle Centres, Neighbourhood Shopping Centres and Luxury Retail.
- With NCM’s acquisition, VRSA’s India retail portfolio now stands at 5.5 million sq ft.