Spread over 1.3 acres in prime Haji Ali locality, the mall is expected to make way for an around 50-storey sea-view superstructure with nearly 250,000 sq ft development potential. Based on the current property prices in the vicinity, the project is estimated to fetch over Rs 2,000 crore revenue.
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Kishore Biyani: The settlement was backed by realty developer K Raheja Corp., which acquired SOBO Central Mall. Earlier known as Crossroads, SOBO Central is the country’s first mall, having opened in late 1990s in south Mumbai s Haji Ali locality.
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The Sobo Central mall was run by Future Group Promoter Kishore Biyani s firm, and was opened in the late 1990 s. Named as Crossroads Mall, it was one of the preferred destination for shopping and socialising at the time