Mall

Fresh supply of retail space in shopping malls during 2024-27 across eight major cities is expected to be 18 million sq ft, which is one-third of the projected requirement to meet the demand, according to Cushman & Wakefield (C&W). Real estate consultant C&W in its latest report pointed out that "India's Retail Space Per Capita (RSPC) lags behind other South Asian countries, including Indonesia, Philippines, Thailand, and Vietnam." This underlines vast potential for expansion of retail spaces, it added. At present, the total retail space in top eight cities is around 60 million sq ft and 18 million sq ft is expected to be added during 2024-27. In the first half of 2024, no new mall became operational. "To reach a 1.0 RSPC by 2027, comparable to Indonesia -- the closest relevant comparison owing to relatively similar per capita incomes -- there is a need to construct about 55 million sq ft of mall space over the next four years," the consultant said. At present, the ...

Realty firm Elan Group has given a Rs 500 crore contract to Leighton Asia for the development of its shopping mall in Gurugram. In a statement, the company said it has "awarded the construction contract worth over Rs 500 crore to the Australian CIMIC Group's construction company, Leighton Asia, for its newly launched commercial mall, Elan Imperial." Located in Sector 82 in Gurugram, this mixed-use project includes a luxury retail mall, a five-star hotel and branded residences. Leighton is set to begin construction in November 2024. In August last year, Leighton was awarded with Rs 1,000 crore contract to construct Elan Group's flagship residential development, Elan The Presidential' in Sector 106, Gurugram. Rakesh Kapoor, Chairman, Elan Group, said the company has partnered again with Leighton. "With Elan Imperial, we aim to create a truly extraordinary destination for shopping, dining and leisure. This luxury mall will be the first of its kind in Gurugram, seamlessly integrating

The idea behind setting up these malls appears to be to give a boost to local products and economies

Start-ups and the SME segment are considered to be the backbone of the national economic structure

Near the mostly empty food court, a local Mohawk tribe member opened a specialty popcorn stand