The site of the shopping mall being developed by Bindal Buildcon Pvt. Ltd in Jamshedpur on Sunday. (Bhola Prasad)

Jamshedpur, May 15: Marine Drive can well be named Brand Street in the times to come.

Major realty players in the steel city have announced two plush multi-crore malls, within 200m of each other. They will compete not only with each other but also with Big Bazaar, Bazaar Kolkata, Reliance Fresh and two upcoming malls in Bistupur.

Making its debut in December 2013, is the Rs 30-crore Bindal Mall launched by Bindal Buildcon Private Limited, whose foundation stone was laid today. It promises a miniplex, swanky retail stores, a gaming zone and food courts on its two-acre area.

“This ambitious project, apart from business centres, provides an unlimited scope for entertainment. We’re offering visitors a single screen miniplex, a food court and gaming. There will be parking for 200 cars. Talks are on with big brands, including foreign retail chains, to set up shop here,” said Bindal Buildcon Private Limited director Shankar Lal Gupta.

Meanwhile, Ashiana Housing on Saturday announced the launch of Marine Plaza, also an integrated commercial retail complex with top-notch brands and leisure facilities under one roof. The 80,000sqft complex, to come up in two years, marks the debut of Ashiana Housing in the retail segment and will boast 81 outlets of premium brands.

Ashiana Housing joint managing director Ankur Gupta said: “Marine Plaza has its own positioning, as we want to offer the city’s residents the best brands on offer.”

Three other major groups — Hi-tech Heritage Private Limited, Fortune Hotel Centre Point and KK Builders — have also acquired land on sub-lease from Tata Steel for projects such as hotels, IT parks and shopping hubs.