The Phoenix Mills has acquired a land parcel measuring 7.22 acre for a total of about Rs 5.1 billion in Udhana Magdalla Road, Surat. The land has been acquired through Thoth Mall and Commercial Real Estate (Thoth), an indirect subsidiary of the company. Thoth will develop a retail destination with a gross leasable area of approximately 1 million sq ft and currently expects to complete the retail development by FY27. The mall will be the second retail development in Gujarat for the company, the first being Phoenix Palladium Ahmedabad which is expected to commence operations shortly. Contact: Phoenix Mills Tel: 022-3001 6600 Website: www.thephoenixmills.com