Gleeds partnered with Xander Investment Management to deliver Pre-Contract and Post-Contract Cost Management services for VR Mall Chennai, a 1.8 million sq. ft. retail complex in Tamil Nadu, India. Despite challenges such as complex foundation work and tight timelines, Gleeds' proactive approach resulted in the project being delivered on time and within budget while satisfying the client’s requirements.
VR Mall Chennai is a sprawling retail complex featuring a high-end mall with retail space, a food court, a multiplex, co-working spaces, a hotel and extensive car parking facilities. Gleeds supported Xander Investment Management in managing costs and overcoming project challenges to achieve success.Gleeds’ retail experts in India worked alongside the development manager to establish cost plans for the project in line with the business case.
We went on to provide pre-contract and post-contract cost management services, including design management, budget preparation, change management, stakeholder coordination, and procurement management. By leveraging market intelligence and expertise, Gleeds provided Value Engineering Solutions, controlled costs, and streamlined procurement processes.
The project faced delays due to complex foundation work and design challenges, all against the backdrop of a fluctuating market.
Gleeds addressed these challenges through robust design management, accurate budgeting, proactive change control, stakeholder coordination, and strategic procurement management. Meanwhile, our cost managers proactively tracked the basic price of materials to provide strong contract administration. This achieved best value for money for the client throughout the life of the contract.
Completed in June 2019, the project was handed over 4% under the approved budget, showcasing Gleeds' commitment to cost efficiency. VR Mall Chennai has since become a landmark in the Chennai market, attracting visitors and bolstering Xander Investment Management's reputation. The successful completion has since led to Gleeds being awarded further work from the same client.
The successful delivery of VR Mall Chennai has positioned Gleeds as a trusted partner to Xander Investment Management. The project's success has paved the way for future collaborations and expansions, demonstrating Gleeds' capability to meet client expectations and deliver value. It has also provided a welcome boost to Gleeds’ presence in India which included the launch of a fifth office in Chennai. The city is the fifth largest in India and fast becoming a hub for emerging business and industry.
