Chennai,: Express Avenue- “The Destination Mall of India”, one of the leading malls in Chennai announced that their 2022 Christmas and 2023 New Year and Pongal festive seasonsbusiness saw a strong performance and record sales. The announcement also marks the entertainment avenue’s step into the 13th year of successful operation.
The mall housing close to 80 apparel retail outlets and the largest gaming arcade in South India and successful business season surrounding the Christmas, New Year, and Pongal celebrations.
Speaking on the announcement, Mr.Suraj Das, Sr Vice President Finance of Express Infrastructure Pvt Ltd said, “The recovery is rebooted back in EA Mall and the performance remains strong. This is evident from EA mall rental revenue which has gone up by 13% compared to the Pre-Covid level. The pace of recovery is laggard categories, such as food and beverage, cinema, grocery, apparel, footwear, cosmetics, electronics, luxury, and family entertainment centers have picked up as well. Retail space in EA mall is running at 97% occupancy of which 45% is occupied by anchor retailers. On commercial space, it is occupied at 86%. Our E Residence – Luxury home segment has picked up the sales velocity and our E Hotel, the hospitality sector is showing consistent growth at 85% occupancy with good ADR and banquet revenue. Under the leadership of MD Ms. Kavita Singhania, the company is in expansion mode and foraying into buying the land for the solar project & exploring various other projects in other cities/States.”
The mall apart from the largest gaming arcade in South India also accommodates The Escape Cinemas, the branch of PVR Cinemas, the city’s largest Cineplex, stand-alone stores like Bath & Body Works, Montblanc, Armani Exchange, Pantaloon, Smart Bazaar, H&M and Forever 21 and a food court that includes food chains such as McDonald’s, Burger King, Taco Bell, KFC and Pizza Hut.