PHOENIX MILLS RISE 3 (WING B) — New Project Coming Up in Lower Parel, Mumbai

Phoenix Mills Rise 3 (Wing B): New Retail Development Coming to Lower Parel

Located on Senapati Bapat Marg in Lower Parel, Phoenix Mills Rise 3 (Wing B) is part of The Phoenix Mills Limited's next phase of commercial expansion at its flagship Lower Parel campus. Rise 3 (Wing B) is designed as a mall space, alongside other mixed-use components including Rise 1 (Wing A) comprising a mall, offices, and residential spaces, Wing C, Rise 2, and Block 5, all designed as mall spaces.

Developer Background

The Phoenix Mills Co. Ltd. is led by Managing Director Atul Ruia. Phoenix Mills Limited is the largest mall developer in the country and today boasts a well-rounded portfolio of approximately 8 million square feet of operational retail space, 2 million square feet of office space, 588 hotel keys in the hospitality segment and three residential projects. The company started its retail journey in the 1990s through High Street Phoenix at Lower Parel.

Lower Parel: A Commercial Hub

Lower Parel, once dominated by textile mills, has undergone a remarkable transformation to become South Central Mumbai's crown jewel for luxury real estate and has successfully reinvented itself as a premier destination for high-net-worth individuals, corporate leaders, and savvy investors. The area enjoys a premium catchment with strong residential catchment and convergence of public transport systems providing easy connectivity from all parts of the city.

Lower Parel has its own railway station on the Western Line, providing easy access to Mumbai's suburban network, while major arterial roads such as Senapati Bapat Marg and Dr. E Moses Road pass through the area, ensuring smooth road connectivity.

Mixed-Use Development Context

Phoenix Mills follows an integrated model wherein it builds offices, hotels and sometimes even residential projects around its malls, which has the added benefit of creating a captive consumer base for its malls, thus increasing their footfall. Rise 3 (Wing B) continues this strategic approach to retail-led mixed-use development at the Phoenix Mills campus.