Mall space set to increase by 65 mn sq ft in India
Real Estate

Mall space set to increase by 65 mn sq ft in India

Real estate developers are investing in the construction of malls, thereby adding 65 mn sq ft of new mall supply  by 2022, as per a report by Anarock. The Indian retail industry has moved from long-term leasing to short-term leasing tenures  to enable updating of the brand mix within ...

Real estate developers are investing in the construction of malls, thereby adding 65 mn sq ft of new mall supply  by 2022, as per a report by Anarock. The Indian retail industry has moved from long-term leasing to short-term leasing tenures  to enable updating of the brand mix within the mall. Nearly two-thirds of the new supply (40 mn sq ft) is expected to hit the market by 2020. Of this total new supply, the top seven cities constitute a 72 per cent share and the remaining 28 per cent (18.2 mn sq ft) will come up in Tier-II and Tier-III cities. MMR, Delhi-NCR, Hyderabad and Bengaluru together lead with new supply aggregating to nearly 34 mn sq ft in these cities.

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