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With occupancies near full, institutional investment rising and REIT adoption growing, developers and analysts expect annuity based income to expand further.
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Consumers here are well-travelled, digitally exposed, and aspirational, making them ready for luxury and premium retail.
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As high-street retail continues to develop, it is poised to become a strong contender for luxury retail in India. The combination of rising rentals, better sales conversions and improving infrastructure is making It increasingly attractive to both local and global brands
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Footfall in malls reduced during the April-June quarter on a sequential basis, as consumer sentiment was affected due to the elections and heat, and anchor tenants such as multiplexes performed poorly. Industry players have identified indoor entertainment venues, along with food and beverage, as a way to attract more footfall.
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The dip in average daily footfall in shopping malls was due to extreme heat, a lack of major film releases, weeks-long parliamentary elections, according to a report by GeoIQ. Of the 30 malls surveyed, only 10 reported an uptick, data shows.
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Khan Market commands the highest average rent of Rs 1,249 per sq ft per month, followed by Gurugram’s DLF Galleria at Rs 997 per sq ft, and Mumbai’s Linking Road at Rs 670 per sq ft per month, according to a study by Knight Frank.
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Since 2016, the REIT has acquired 17 malls, and is looking at doubling the portfolio in the next 4-5 years
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Improved consumer sentiment, a rise in footfalls into malls and growing retail sales have propelled mall rentals
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Data last week showed back-to-back declines for retail sales at primarily brick-and-mortar stores, while spending grew online. Year-on-year online prices have been falling for seven consecutive months, drawing shoppers
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The report by Knight says rescuing these malls is imperative, given the huge amount of assets trapped within them
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Property consultant Knight Frank India on Tuesday released its report 'Think India, Think Retail 2022 Reinventing Indian Shopping Malls' in a webinar.
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Shoppers at Lulu Malls in Kochi and Thiruvananthapuram were seen running past each other and arguing with security staff during the sale on July 7.
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The net absorption in office segment is expected to rise to 28msf in CY2022 from 19-20 msf in CY2020-CY2021, backed by resumption of back to office plans and growth in hiring by corporates
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Retailers have started expanding their stores rapidly. Unlike in the past two years of the pandemic, shopping mall outlets are high on their priority list.
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Mall of Asia in Bengaluru will be spread across 1.2 msf and will be among the largest in India
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The third wave of the pandemic has impacted the recovery of shopping malls, which had witnessed a sharp recovery in footfalls in the third quarter of FY22, said a note by ICRA.
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Most shopping malls reported a recovery in sales during the festive months as consumer sentiment improved and the pandemic ebbed
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The new properties will include three premium neighbourhood plazas, two office retail spaces and one premium mall.
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Here’s how commercial real estate spaces will be repurposed in a VUCA or volatile, uncertain, complex and ambiguous world.
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Every passing day of closure is not only hurting businesses but also livelihoods of people working there, says RAI.
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Mall density in India is significantly lower than that of other countries in APAC region and is likely to provide immense scope for growth over the next few years. Favourable long-term consumption trends and growth of Tier 2 and 3 markets puts the retail sector in a sweet spot over the medium to long term.
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Fresh round of lockdowns may lead to another round of rental negotiations/waivers having to be offered by mall owners in FY22E as well, experts say.
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Special shopping schemes, apps, offers with instant gifts, small scale events, exhibitions… malls are pulling out all the stops to woo customers back in
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Most parts of Mumbai reported a major power outage on the morning of October 12 due to a technical failure. Back up of mall generators lasts for 14 hours.
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For most malls, F&B is a popular section as customers who do not wish to shop end up grabbing a bite at the food court or a restaurant within the mall.
