Expansion of brick-n-mortar retail is also underway outside metros. Between 2006 and 2017, Tier-II cities reportedly received close to five times the investment of Tier-I cities, which Anuj Kejriwal, Managing Director & CEO, Anarock Retail ascribes to 'investors and mall developers realising the potential of these smaller markets and trying to make their presence felt.'
Of the 85 new malls on the anvil, over 30 new shopping malls covering nearly 14 million sq ft are likely to come up in the top eight cities, according to Anarock. These include Gurugram, Noida, Greater Noida and Delhi in NCR, Mumbai, Chennai, Bengaluru and Pune.
Piramal Fund Management (PFM) has surpassed Rs 10,000 crore in aggregate investments from the proprietary book of Piramal Enterprises in South India. This milestone has been aided by a focused approach in treating Bengaluru, Hyderabad and Chennai as a single region, where synergies can be drawn from both existing and new relationships with Tier-1 developers, and by leveraging its ability to sanction large deals across the capital stack (Example: Adarsh Group - Rs 1,000 crore, Ozone Group - Rs 1,
According to a United Nations report, 54 per cent of the world´s population lives in urban areas, a proportion that is expected to increase to 66 per cent by 2050. Projections show that urbanisation, combined with overall growth of the world´s population, could add another 2.5 billion people to urban populations by 2050, with close to 90 per cent of the increase concentrated in Asia and Africa.