Grade A malls have witnessed a CAGR of 6.2 percent over last 5 years as against a 5 percent benchmark in lease rentals, highlighting the success of creating a destination mall
DLF Shopping Malls is planning to focus on Delhi-NCR as that is ‘where the consumption is’. It is evaluating retail opportunities in a holiday resort town outside the national capital
Almost all the Grade A malls in India provide excellent support services and facilities for their visitors. Nevertheless, despite the massive progress seen so far in Indian malls, we have still to see the arrival of genuinely international standards.
Retailers at shopping malls are expecting about 45-50 per cent increase in sales this festive season as they are offering freebies and easy finance options to beat competition from e-commerce players, a study by industry body Assocham said.
Both retailers and consultants seem convinced that the mall magic seems to have disappeared in a puff of smoke on the back of the economic slowdown, poor revenue model, low footfalls-to-sales conversion and lack of special purpose malls, the survey added.
In core areas of the city, street-facing shopping should be encouraged up to the footpath line in residential and commercial buildings for energy and space-efficient use, economic vibrancy and safety-enhancing design.
DLF's rental income from commercial properties, including offices and shopping malls, was Rs 1,950 crore last fiscal. It is targeting 8 per cent growth in the rental business this fiscal to Rs 2,100 crore.
DLF, which builds homes, offices and shopping malls, said late on Monday net profit for the June quarter was Rs 181 crore, compared with Rs 293 crore a year earlier. Sales and other receipts rose 4 percent to Rs 2,314 crore from Rs 2,198 crore.