Commercial complex construction booming

Construction of commercial complexes in core city areas of Kathmandu has surged of late. With the Capital’s major business areas getting crowded by the day, multi-storied business complexes have indeed become a necessity.

Civil Group is constructing Civil Trade Centre at Sundhara with an investment of over Rs 800 million. The trade centre was completely booked in a single day. The 10-storied trade centre will have 146 shops in its ground to fifth floor. Its seventh, eighth and ninth floors will be leased to offices, according to the developer.

Kathmandu’s major business hub, New Road, is also getting one more commercial complex—Ranjana Trade Centre. Like the Civil Trade Centre, Ranjana was also booked in a single day. Developers said Ranjana will feature facilities including food court, kids’ zone and mini multiplex, among others.

The Durbarmarg area, which is rapidly being developed as a financial area, will see JSB Financial Tower soon. Developed by Krishi Premura Properties, the 16-storey Tower will be the tallest commercial building in the Capital. Besides this, one more mall is under construction in the Durbarmarg area.

The tourist hub of Thamel is also getting a mall- The Thamel Plaza-in the near future.

Likewise, Star Mall at Putalisadak is being operational within a month. The seven storied building will have 50 stores and meeting and conference halls in its third floor. It will also have a food-court and cinema halls in the fourth floor. The fifth, sixth and seventh floors will be leased to offices. Star Holdings, the developer of the mall, has invested around Rs 750 million for its construction.

Aayusha Developers is planning to build CM Central Market at Naxal. Like most of the malls, CM Central Market will also feature a food court and multiplex. One more mall is in the offing at New Baneshwor.

Builders are developing new commercial complexes with various facilities such as elevators, escalators, food-courts, gaming zones, seminar halls and multiplexes, among others.

The Maitighar-Koteshwor segment is also witnessing construction of several business complexes. Kathmandu Municipality, which declared this segment as a commercial zone, has approved the construction of 14 corporate buildings here. Of the 14 projects, two are under way.

Six insurance companies have invested more then Rs 420 million in the construction of corporate buildings in the Capital. Asian, Shikhar, Sagarmatha, Premier, Siddhartha and Alliance Insurance companies are investing hefty sums in the construction and purchase of corporate buildings.

source: The Kathmandu Post (2011),"Commercial complex construction booming",The Kathmandu Post, 20 Jan 2011

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