Shopping Mall

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, ...

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 ...

Inside Delhi's ghost malls: A struggle to stay relevant in retail landscape

Poor management by mall authorities appears to be a significant reason for the decreased footfall

India's biggest mall to come up at Delhi airport's Aerocity by 2027

The mega mall will be a part of constructing India's inaugural aerotropolis-a metropolitan area around an airport, led by Bharti Realty

FADA and Frost & Sullivan to conduct customer experience index study

The survey will be conducted through a collection of 8,000 blind samples from people roaming in places such as shopping malls, cinema halls, hotels, and restaurants across 26 cities in the country

Retail malls see robust growth with addition of 3.1 million sq ft in Q4

Major Indian developers for retail malls indicated that rising demand, tight vacancies, investments, and buyer inclination, are among the significant reasons behind the robust growth

Save the date: India's largest luxe mall opens its doors on November 1

The mall will showcase a host of prestigious luxury brands, including Bvlgari, Cartier, Louis Vuitton, Versace, Valentino, Manish Malhotra, Abu Jani Sandeep Khosla, and Pottery Barn, among others

Realty major DLF to invest Rs 1,700 cr for new shopping mall in Gurugram

Realty major DLF is likely to start construction of its new 25 lakh square feet shopping mall in Gurugram this quarter at a cost of around Rs 1,700 crore to expand business amid surge in demand for quality real estate space from retailers. At present, DLF has a retail footprint of around 42 lakh square feet comprising nine properties, including malls and shopping centres, mainly across Delhi-NCR. Around 3.4 lakh square feet retail portfolio is under DLF Ltd and rest under the DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC. In an interview with PTI, DLF's Vice Chairman and MD (Rental Business) Sriram Khattar highlighted that the retail sector has bounced back sharply post-COVID pandemic and there has been a strong growth in footfalls and sales in shopping malls. "We are likely to start construction of Mall of India, Gurugram in the third quarter of this fiscal year," said Khattar, who has recently been elevated to this new .

Special malls for factory outlets! Details inside

Which Indian market has the highest rentals? Delhi | Gurgaon | Mumbai

Saya Group to invest Rs 2,000 cr in 1.4 mn sq ft-shopping mall in Noida

Realty firm Saya Group will invest Rs 2,000 crore to develop a 14 lakh square feet shopping mall in Noida as part of its expansion plan, its CMD Vikas Bhasin said on Wednesday. The construction work has started and the shopping mall 'Saya Status' is expected to be operational in January 2025. "We are developing the country's tallest mall in Sector 128, Noida Expressway. The total built up area is 14 lakh square feet while the leasable area is 11 lakh square feet," Bhasin told reporters. The height of the 9-floor shopping mall is around 160 square feet, the company said. The company will keep 70 per cent area in the mall and sell 30 per cent area to investors. The company however will retain the leasing rights. Asked about investment, Bhasin said the total cost will be around Rs 2,000 crore, including expenditure on land, construction and marketing. The investment will be funded through internal accruals and loans from IIFL. Saya Group is selling the retail space in a price range

Trident Group acquires Shipra Mall in Ghaziabad for Rs 551 cr via auction

Real estate developer Trident Group has acquired Shipra Mall at Ghaziabad for Rs 551 crore through an auction process, its CEO Parvinder Singh said on Friday. Trident Group, which is developing projects in Delhi-NCR, Mumbai, and Tri-city (Panchkula), has forayed into retail real estate segment with the acquisition of Shipra Mall at Indirapuram in Ghaziabad, Uttar Pradesh. The size of the mall is 4.5 lakh square feet. "We have acquired the Shipra Mall through auction under the SARFAESI Act (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act) for Rs 551 crore. The auction was conducted by Shipra Mall's lenders Indiabulls Housing Finance and Edelweiss Asset Reconstruction Company," Singh told PTI. The property has been registered and the company paid a stamp duty and registration charge of Rs 44 crore, he said. The deal has been funded through a mix of equity and debt, Singh said. "The mall serves the catchment area of Indirapuram, Vaishal

Shopping mall operators' revenue may rise 7-9% this fiscal: Crisil report

Shopping mall operators are expected to earn 7-9 per cent higher revenue during this fiscal, driven by strong retail consumption and improved rentals in their properties, according to CRISIL. "Buoyant retail sales and improved rental yields are expected to lift the revenue of mall operators by 7-9 per cent this fiscal. That would be tantamount to around 125 per cent of pre-pandemic, or fiscal 2020, revenue," it said in a statement. The rating agency said that the growth in revenue will be on a high base of FY23. During the last fiscal, CRISIL noted that "return to social normalcy after mobility curbs were lifted led to substantial growth in footfalls and a robust 60 per cent rise in revenue to around 116 per cent of the pre-pandemic level". "Additionally, high occupancy levels, solid profitability backed by cost-optimisation measures and strong balance sheets will keep the credit risk profiles of mall operators healthy this fiscal," the agency said. CRISIL Ratings has analysed 28

Building owner can decide whether to collect parking charges: Kerala HC

The Kerala High Court has held that it is up to the building owner to decide whether or not to collect parking fees from customers while using the shopping facility

Puri shopping complex fire under control, over 140 people rescued

The devastating blaze that broke out at a market complex near the Shree Jagannath Temple here was brought under control in a 24-hour-long fire-fighting operation on Thursday, while about 140 people were rescued, official sources said. The fire gutted almost all the 43 shops, a bank and a hotel that the Laxmi Market Complex consisted of. However, there was no casualty. The fire is now under control though smoke was billowing from certain parts of the market complex, said DG, Fire Service, S K Upadhyaya, who visited the site earlier in the day. Three fire department personnel and three tourists were hospitalised due to exposure to flame and smoke, an officer said. It was a tough job for the firefighters as there was only one exit and entry point to the three-storied building. Garments, toys and leather products kept in shops functioned as fuel to the fire and that took a long time to douse the blaze, the officer said. Besides 12 fire tenders, 90 fire service personnel, local police

Fire breaks out at shopping complex in south Kolkata's Dhakuria area

Fire broke out at a shopping complex in south Kolkata's Dhakuria area on Monday, officials said. The blaze was first spotted at a shop in the Dakshinapan Shopping Complex around 11.45 am, they said. Two fire tenders brought the blaze under control in 30 minutes, they added. No one was injured in the blaze, the cause for which is yet to be ascertained, a fire department official said.

Institutional investments in retail real estate jump 6-fold in 2022: Rpt

Institutional investments in retail real estate jumped over six fold to USD 492 million in 2022, as businesses in shopping malls revived strongly post the COVID pandemic, according to Colliers India. In 2021, the retail real estate had attracted only USD 77 million institutional investments because of an adverse impact of the COVID pandemic on the businesses in shopping malls. Overall, Colliers said that the institutional investments in the Indian real estate sector grew 20 per cent in 2022 to touch USD 4.9 billion from USD 4.08 billion in the previous year. Alternate asset classes, which includes data centres, received an investment of USD 867 million last year, up 92 per cent from USD 453 million in 2021. Alternate assets include data centres, life sciences, senior housing, holiday homes, and student housing among others. The growth of alternate assets is led by investors looking to diversify their portfolio, given steady returns in some traditional asset classes, Colliers India

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

Brokerages expect double digit earnings growth over the next three years

Lulu Group to open 6 shopping malls, 1 five-star hotel in Uttar Pradesh

The Uttar Pradesh government on Tuesday 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

Odisha consumer court orders mall to pay Rs 25K for charging for carry bag

The court has directed the shopping mall authorities to release the compensation amount within 30 days from the date of the receipt of the order