The Sitara is the largest South Asian Indoor Shopping Centre in the GTA, after extensive research to provide a platform for businessmen with untapped business potential.
Estimate· 800,000 South Asian populations in the GTA growing at 50,000 per annum. We are projecting if 1% were to visit the mall; we are looking at approximately 8000 visitors. We are projecting that if 0.5% of the South Asian population were to visit we expect 4000 visitors and 0.25% would expect 2000 visitors to the mall.
The disposable income for the given population is CAD 76 billion.· Spending patterns on consumables, entertainment and food is at CAD 12 billion.·
GTA boasts of 21 indoor shopping malls and not one of them is South Asian.· South Asian population concentration in Markham and Scarborough followed by Mississauga and Brampton.
The South Asian residents in Markham and Scarborough have average annual earnings of CAD 80,000.· The Markham Road has 80,000 cars passing as daily traffic volume.· The Mall is equipped with underground multilevel parking to accommodate over 1000 parking spots.· The Convention hall will accommodate up to 2000 guests and will host major events and celebrations. This would be a major contributor to business potential for food outlets as well as other businesses in the mall.·
The Markham Municipality is investing about CAD 10 billion for commercial infrastructure development. Markham Municipal Corporation is in a spree for approving commercial zone. The reason is its huge budgetary deficit every year which has added to the 25 billion deficit of Ontario this year.
Markham wants to open commercial zone so that people invest in Markham and Scarborough, do their shopping and in turn the tax money they pay will help erase the huge budgetary deficit that it provides. It’s all about earning tax and reduces the huge budget deficit by giving perks to the investors.·
The developers for the project being Tai Foong International who are one of the five largest seafood companies in Canada.·
The South Asian population includes though not limited to people from Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.· The Sitara boasts of its Bollywood bazaar a themed area in the mall that would attract crowds not limited to South Asians.
Please refer to the following website for further reference as well as some details on Scarborough from the Wikipedia website.http://www.markham.ca/Markham/Departments/EDO/Stats.htmhttp://en.wikipedia.org/wiki/File:Scarborough_VisMin_2006.jp
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I understand they collected the money, did nothing, the project is dead and some people paid money thinking of suing them
ReplyDeletei have invested money in this project and waited more than 3 years but so for no progress and now i recieved a call from developer telling me to come and sign a mutual release so he can return my money, i believe they are ripping people off. i will be suing them as well.
ReplyDeletetaking investors money and using it for their own benefits. be refrain from investing in this project.
Sitara sucks.
ReplyDeleteI have purchased a shop in sitara, invested close to 50 k. they returned my money after 4 years and paid me only $600 as interest. it seems like they needed money to run there sea food business. city should take action against such developers.
ReplyDeletelooks like the project is dead - sign on the property is gone - website is down... and that landmark mall they plan to build nearby isnt going anywhere either
ReplyDelete