Malls

Demand for retail space in malls, high streets up 5% in Jan-Sept: C&W

Leasing of retail space in shopping malls and prominent high streets rose nearly 5 per cent during January-September this year across eight major cities, according to Cushman & Wakefield. Real estate consultant Cushman & Wakefield data showed that the absorption or leasing of retail space in Grade-A malls and main high streets across the top eight cities stood at 5.53 million square feet during January-September 2024 against 5.29 million square feet in the corresponding period of the preceding year. These eight cities are -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Pune and Ahmedabad. Saurabh Shatdal, Managing Director (Capital Markets) and Head-Retail-India, Cushman & Wakefield, said, "India's retail real estate growth remains intact as can be observed from the strong leasing numbers, both in malls and main streets". Increasing discretionary spending and evolving consumer preferences are driving demand for premium retail spaces, he added. Shatdal, ...

Malls need to be 'more humane' towards delivery partners: Zomato CEO

Zomato CEO Deepinder Goyal on Sunday said malls need to be "more humane" towards delivery partners, sharing his first-hand experience as a delivery executive picking up orders for the food tech giant. The Zomato CEO and his wife Grecia Munoz, who changed her name to Gia Goyal on Instagram, earlier took on the role of delivery partners to deliver orders in Gurugram and get a first-hand experience of challenges faced by them. Sharing his experience in a social media post, Goyal said: "During my second order, I realised that we need to work with malls more closely to improve working conditions for all delivery partners. And malls also need to be more humane to delivery partners. What do you think?" The Zomato CEO tagged a video with the post elaborating upon the experience. "We reached Ambience Mall in Gurugram to pick up the order from Haldiram's. Was told to take the other entrance, and realised they are asking me to take the stairs. Went in again on the main entrance to make sure ..

'Vegas Mall in Delhi saw max average footfall in Q1 among top 25 malls'

Vegas Mall in the national capital witnessed highest average daily footfall during April-June period followed by V3S East Centre Mall in east Delhi and Phoenix Marketcity in Mumbai region, according to a report. GeoIQ, a leading location AI startup, on Friday released the list of top 25 malls in India based on footfall data. It leverages aggregated, anonymised geolocation data from mobile devices and applies advanced machine learning to generate accurate footfall and other insights for any store or location across the country. Vegas Mall (Dwarka, Delhi), V3S East Centre Mall (Delhi) and Phoenix Marketcity (Greater Mumbai) were the top three shopping malls with an average daily footfall of 26,212, 24,282 and 23,000, respectively. Looking at city-specific data, the top five malls in Mumbai are Phoenix Marketcity (ranked 3rd), R City Mall (ranked 4th), Viviana Mall (ranked 5th), Seawoods Grand Central (ranked 10th), and High Street Phoenix (ranked 12th). In Delhi NCR, the top five mal

Shortage of malls slows Cinepolis' plan for 1,000 screens in India

Mall shortage puts Mexico movie theatre chain's blockbuster India ambitions on pause

Retail space demand in malls rises 15% in April-June: Cushman & Wakefield

Leasing of retail spaces in shopping malls rose 15 per cent annually during the April-June period to 6.12 lakh square feet across eight major cities on better demand from retailers, according to Cushman & Wakefield. Real estate consultant Cushman & Wakefield India data showed that the demand for retail space on major high streets across these eight major cities increased 4 per cent annually to nearly 14 lakh square feet during the second quarter of the 2024 calendar year. As per the data, the leasing activities in shopping malls rose to 6,12,396 square feet during April-June 2024 from 5,33,078 square feet in the year-ago period. High street locations saw a growth of 4 per cent in leasing to 13,89,768 square feet from 13,31,705 square feet during the period under review. The leasing data includes all types of shopping malls- Grade A and Grade B -- and also all prominent mainstreets. These eight cities are -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Pune and ...

Swiggy to integrate Instamart with Mall to broaden choice for consumers

Food tech giant Swiggy on Thursday said it will integrate Swiggy Mall with its quick commerce offering Instamart, to broaden the choice for consumers looking to purchase products other than groceries and staples. Swiggy Mall, which is currently operational in parts of Bengaluru, marked the company's foray into online retail. The company said Swiggy Instamart is already present in more than 25 cities allowing Swiggy Mall to scale up over the coming months, starting with Bengaluru. "Swiggy Instamart is broadening its offerings to include an even wider array of products. With our latest update, customers can now explore an extensive selection across over 35 categories, that go way beyond groceries and home essentials, delivered in minutes. "This marks a significant milestone in our journey towards providing unparalleled convenience, ensuring our users have everything they need at their fingertips, faster than ever before," said Phani Kishan, Head of Swiggy Instamart. In a blog post,

Entertainment leasing nearly triples in last one year in India: CBRE

Malls witnessed higher footfall, and this translated into increased visitors to other entertainment zones like gaming arcades, clubs, etc

Demand for spaces in malls pushed retail leasing to all-time high in 2023

Among the sectors, retail leasing was led by fashion and apparel which accounted for around 32 per cent of the total

With retail demand and investor interest up, India set to get bigger malls

High interest from investors, along with comfortable balance sheets, is expected to keep credit risk profiles of mall owners stable, says Crisil

Prestige Group eyes mall expansion in Mumbai and Goa amid retail boom

Prestige Group currently operates four malls in Bengaluru and Kochi, it plans to develop eight more malls across various stages in cities such as Chennai and Hyderabad

Shoppers flee shopping mall in Bangkok after hearing reports of gunshots

Hundreds of shoppers fled a major shopping mall in the centre of the Thai capital Bangkok on Tuesday afternoon after what sounded like gunshots were heard inside. It was not immediately clear if shots had been fired or there were any casualties, but some frightened shoppers were still hunkering down inside the Siam Paragon Mall. The incident prompted authorities to shut access to a major transit stop nearby as the evening rush hour began and intense rain pounded the city, according to an Associated Press journalist at the scene. First responders could be seen entering the mall as sirens wailed outside. Witnesses said crowds of people left the building, one of several shopping centres in the area popular with tourists and well-heeled Thais alike. Chinese tourist Liu Shiying told the AP from inside the mall that she saw people running and saying someone had opened fire. She said an alarm rang out inside the mall and the lights went out. She is still taking cover inside the mall. We

LVMH, Gucci to expand in India with new outlets in Reliance's luxury mall

The mall, which an industry source said is likely to open this year, is located inside Reliance's $1 billion business and cultural hub in Mumbai

Special malls for factory outlets! Details inside

Nexus Select Trust acquires 17 malls; to continue inorganic growth post IPO

Blackstone-sponsored Nexus Select Trust, which will soon launch Rs 3,200 crore retail REIT public issue, has acquired 17 shopping malls in the last seven years and will further expand portfolio through inorganic route as it remain bullish about retail consumption. Nexus Select Trust will hit the capital market on May 9 to raise up to Rs 3,200 crore through its retail REIT Initial Public Offering (IPO) and this includes fresh issue of units worth up to Rs 1,400 crore and an Offer For Sale (OFS) of up to Rs 1,800 crore. The company has fixed the price band at Rs 95 per unit to Rs 100 per unit for the proposed issue scheduled to close on May 11. This will be India's first REIT (Real Estate Investment Trust) IPO backed by rent yielding retail real estate assets. At present, there are three listed REITs on stock exchanges but all backed by office assets. Nexus Select Trust has a portfolio of 17 operational shopping malls, including Delhi's premium Select City Walk, across 14 major citie

Retailers shrug off winter chill to see double-digit growth in yr-end sales

Footfalls have also witnessed an increase at both malls and retail outlets

Tension builds up between malls, retailers over proposed rental changes

Malls usually sign 9-year agreements with retailers with a rental hike of 15 per cent

Pakistan plans to shut malls, markets early in a bid to save power

Khawaja Asif told journalists the Cabinet-approved measures to shut markets, including restaurants, aimed to save the cash-strapped country about 62 billion Pakistani rupees ($273 million)

New assets, expansion to drive growth for mall firm Phoenix Mills

Brokerages expect double digit earnings growth over the next three years

Retail firm Lulu Group signs deal to open 6 shopping malls, 1 hotel in UP

The Uttar Pradesh government has signed a memorandum of understanding (MoU) with hypermarket and retail giant Lulu Group to set up six shopping malls and one hotel in the state

Offline, online sales soar as shoppers clamour for best Black Friday deals

Retail brands and malls expect sales to grow by as much as 50% this time over the 2019 figures, when Black Friday as a concept began gaining momentum in India