Mall investors slam brakes on new launches amid Covid-19 pandemic

With uncertainty over how many more coronavirus waves lie in store, investors in shopping malls are stalling construction or postponing the launch of their new properties in 2021.

Many might be forced to sell off their properties to new players or repurpose them to create some office or co-working space to hedge their bets.

This year, over 54 new malls with over 22 million square feet of space were expected to open across India. According to estimates by Colliers India, only five with a total space of 2.5 million square feet are looking to go ahead, even though malls with six million