Demolition Begins at Huhtamaki Site in Majiwada, Marking Formal Start of Phoenix Mills' 1.5 Million Sq Ft Thane Mall
Demolition of Former Huhtamaki Site Marks Formal Start of Phoenix Mills' Thane Mall
Demolition work has intensified at the former site of Huhtamaki Paper Products Limited in Majiwada for Phoenix mall, marking a major development milestone in Thane's retail and commercial landscape. The clearing of the 11.5-acre industrial plot marks the formal commencement of the Phoenix Mills project, a massive 1.5 million-square-foot mixed-use development.
The Site and Its Strategic Location
The land, situated at the critical Majiwada Junction, was acquired by Sparkle Two Mall Developers Pvt. Ltd., a wholly owned subsidiary of Phoenix Mills, in late 2023. With an estimated acquisition cost of INR 429 crore, the project is poised to become one of the largest lifestyle and commercial hubs in the Mumbai Metropolitan Region (MMR), addressing a long-standing demand for premium retail space in the city.
Majiwada serves as the primary gateway for Thane, connecting the Eastern Express Highway (EEH) with the Mumbai-Nashik Expressway and Ghodbunder Road. This high-visibility location is expected to draw footfall not only from local residential clusters like Balkum and Kolshet but also from neighboring areas like Bhiwandi and Kalyan.
Planned Development Scope
The project will encompass a large-scale mall, a hotel, office spaces, and potentially some residential components. According to investor presentations from Phoenix Mills, the Thane project is envisioned as a "city-center lifestyle destination". While the primary focus remains a large-format retail mall, the 11.5-acre site is designed for a comprehensive development mix with retail between 1.2 and 1.5 million square feet of leasable area.
Project Timeline and Developer Background
The initial phase of the project will focus on constructing the mall, with completion anticipated by 2028. The Phoenix Group is a leading real estate developer with over 30 years of experience in building iconic residential and commercial projects in Mumbai.
Addressing Thane's Retail Gap
Thane, with a population of over 30 lakh and a rapidly expanding residential landscape, has been experiencing a significant retail deficit. Other malls, including Eternity Mall in Teen Hath Naka and Wonder Mall in Kapurbawdi, have met with limited success. Facilities like Lake City Mall and High Street Mall, primarily housing office clusters and call centers, fail to fill the retail gap.
The company's decision to establish a large-scale mall in Majiwada is strategically sound, given the area's significance as a key city centre. Majiwada Junction serves as a vital connector for Mumbai, Bhiwandi, Kalyan, Thane, and Mira Bhayander, ensuring high accessibility and attracting a wide customer base.